By  on December 10, 2008

Sixty percent of U.S. adults plan to spend less next year than they did in 2008 — and apparel purchases are targeted for major reductions, Boston Consulting Group has found.

The vaporization of personal wealth and the deepening recession in the U.S. have resulted a new urgency to save money — a change that is unusual for its speed and scope. About half of the country’s adults plan spending cutbacks this holiday, an indicator of still-tighter budgets for the year ahead.

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