For the first time since 1952, American households on average cut back on their debts.  Household borrowing fell from 133% of a family’s after-tax income in the first quarter of ‘08 to 128% in the first quarter this year.  Jobless consumers are pulling back on household spending and taking advantage of some of the highest savings rates since 1993.  If the trend in savings holds steady out of the recession, the U.S. economic annual growth rate could shrink below the current average of 3.5%.

Printing & Publishing

Consolidation in the lower-to-middle market are taking place as a result of shrinking margins.  The fall in average deal value from $21.17 million in ‘08 to $895,000 this year indicates the trend of small players exiting the market.  Expect for healthy firms to acquire financially stressed companies with up-to-date printing equipment in order to expand geographically.