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A $100 fall in financial wealth is traditionally associated with a $3-5 3-5line in spendecline
Gasoline station purchases also helped drive the overall decline in spending.
Without the Gates spending, the decline in spending by foundations would have been 9.4 percent.
The panics surely exacerbated the decline in spending by generating pessimism and loss of confidence.
It said that decline in spending contributed to a 17percentt drop in quarterly profit.
The decline in spending for all kinds of telecommunications equipment this year has been stunning.
The increase came largely as a result of a big decline in spending in July.
A collapse of income has not caused this decline in spending.
As Mr Surowiecki notes, the squeeze has primarily manifested itself as huge decline in spending on automobiles and petrol.
Print media have generally not fared as well, though the rate of decline in spending has slowed.
Lucent's revenue already reflects an abrupt decline in spending by its customers, as sales plunged 28percentto to $5.2 billion.
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CEO of Professional Science Editing for Scientists @ prosciediting.com