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With their savings at a record level during the past 12 months, residents of Rappahannock County are in better than usual shape financially.
Despite the recession, the average local family is approaching the end of the year with a record amount of cash and other savings tucked away.
The net result is that there is a treasure trove of additional buying power waiting in the wings. Although a little of it has been allowed to trickle out in the last few months, it is still only a trickle, compared with what it could be.
The bulk of it is being held back by consumers to await more stable economic conditions. Once they are convinced that inflation has been brought under control, that their jobs are safe and that the 'country is heading back to normal, they will be ready to unleash these pent-up savings and embark on a spending spree. ■ In turn, say the experts, that would give new momentum to industry, would create more jobs, reduce unemployment and spark the economv as a whole.
How much are Rappahannock County families saving? The amount of money put aside during the current vear bv the local
96.5%