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of households The average, per household, was $5,647 Even (hough inflation cut deeply into purchasing power in the past year, eliminating a large part of the income gain, consumers in the local area were less constrained in their spending than in many parts of the country As a result, even though they were more cautious with their money than normally, they made it a good year for local merchants, who had a sales volume of $3,710,000
The improvement in buying power, locally and elsewhere, did not produce proportionate in creases in spending on the part of consumers, the reports show.
Because of their uncertainty as to where the economy was heading, what with the war still going on and with inflation and unemployment on the rise, they adopted a wait and see attitude, meanwhile putting more of their money into savings.
The net result is that local consumers have a bigger reservoir of funds than usual to turn to. They will bring them out and return to the market place in force when they regain confidence.
82.4%