With the economy in such bad shape, most Americans are tightening their purse strings and trying to save money any way they can. Most industries have seen their books fall into the red as sales and revenue have plummeted. There are however, a few industries that have seen growth, even in the middle of this economic crisis.
Medicinal and biological products have seen an increase of 2-7% in the past year. Proving that yes, people still get sick and require treatments, even in a recession. Exemplifying the economic principle of substitutes, car maintenance items are up 10-15% and passenger transportation is up 4-12%. Pet supplies are up as well; approximately 4-12% in the past year. Cats and dogs don't eat less or use less litter just because the economy is in a down slide. Video games saw an increase of 14% due to their best sellers Madden NFL 09 and Wii Fit. Video games give people an "escape" much like watching television and more people are at home due to our ever-soaring unemployment rate.
My questions to you this week is "What have you cut back on during the recession? What are the things you can't live without?" You answer must be a minimum of 10 sentences and is due no late than Friday, February 13th at 8:00 a.m.
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