Buzzword: Sellsumer

Although we came across this term on the Trendwatching site on April 1st, it’s no joke. As unemployment rates continue to climb and the economy shows no sign of picking up, more consumers are taking to new ways to make money, including renting out spare space in their homes, hawking homegrown produce, and selling their handicrafts through online marketplaces like Etsy. These entrepreneurs-by-necessity are dubbed “sellsumers,” or “ordinary consumers [who] make money instead of just spending it.”

According to Trendwatching, the recession-fueled boom is part of the “mega-trend that is ‘consumer participation.’” We can’t help but think that many sellsumers would prefer to participate in a full-time job with benefits and security, but in this economy, making a few extra bucks as a craftsman or consultant may be the next-best thing.

Actual U.S. savings rate may have hit 6% in February

BusinessWeek is reporting that the actual savings rate for most Americans may have risen to 6.4% in February, a significant rise from last year when the savings rate hovered near zero.

The official statistics from the Bureau of Economic Analysis show that personal spending fell by 0.4%, and that the savings rate rose to 4.2%. Those figures, however treat as spending fixed costs like healthcare and education over which consumers have little control. With those categories removed, it appears that "pocketbook spending" fell by 3.1%, and that the savings rate hit 6.4%.

The savings rate has historically hovered near zero as Americans borrowed more than they earned.

Study: Weak economy slows but can't stop growth in Americans' drinking

There aren't many industries which can claim better sales in 2008 than in 2007, but Americans bought more alcoholic drinks in a year of economic downturn than they did the year before, according to a new industry study.

Overall sales and consumption of spirits, beer, and wine did rise in 2008, according to according to data from The Beverage Information Group.

The booze business did see a slowdown, however, and the poor economy is to blame, the numbers show, as premium drinks took a hit and people bought more value-priced beverages.

Categories to take the largest hit in 2008 were imported beer and wine. Beer imports went from growing 12% in 2006 to 2.8% in 2007 to a 1.2% decline last year.

Wine imports posted an aggregate decline of 1.7% in 2008 due to the effects of the recessionary environment, the weak value of the U.S. dollar and the grape surplus in Australia. While overall wine imports decreased, there were pockets of positive momentum among smaller importing countries like Argentina, Chile and New Zealand.

Sales of light beer were a bright spot, The Beverage Information Group said, with sales growing 2.2 percent, Light beers now represent almost 52 percent of the entire beer market.

Consumer Reports taste tested light beers earlier this year. Click here to see which brew won the battle.

If wine is more your style, we've got ratings and recommendations on different varietals as well as electric corkscrews and wine chillers.

Sign of the times: Recession could flatten St. Patrick's Day beer sales

St. Patrick's Day is a time for celebration across the land, usually powered by generous quantities of beer. But with the economy lumbering through a recession, it appears that some revelers may pass on the conspicuous consumption.

Beer sales are expected to decline by 6.6 percent from last year, according to industry research from IBISWorld.

March 17 is an important event for the beer industry. IBISWorld numbers show that around 1 percent of total annual beer consumption comes on St. Patrick's Day.

In March 2008 production increased by 10.7 percent to keep the beer flowing.

For those of you who still intend to enjoy a beer or two in honor of St. Patrick, Consumer Reports taste tested beers in the February 2009 issue.