More proof Americans are cutting spending
Story By: Bea Karnes
Source: AP
Two reports released Monday show that Americans are cutting nonessential spending. As gas and food prices soar, people are passing up magazines and not signing up for Broadband.
An industry group reports that newsstand sales of U.S. magazines dropped 6 percent in the first half of this year. Most top titles, including best-selling Cosmopolitan and O, The Oprah Magazine, had sharp declines. Of the top 10 newsstand sellers, only People and In Style posted gains.
And a new report says the number of new broadband Internet subscribers in the U.S. fell in the second quarter to the lowest level in at least seven years. The 20 largest cable and telephone companies added 887,000 high-speed Internet subscribers in the quarter, according to
Leichtman Research Group's tally.
