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As spending in Europe stagnate, actions to save increase
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As spending in Europe stagnate, actions to save increase

Europeans were in a spending holding pattern in the second quarter and actions to save on household expenses increased as unemployment rates in many European markets were high and confidence in the economic outlook for the rest of the year remained weak.

Fewer European respondents planned to spend discretionary income on holidays/vacations, out-of-home entertainment, home improvements, and new technology products, declining one percentage point each from three months ago. One-third of European respondents planned to put spare cash into savings, and 21 percent had no spare cash to spend.