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The recession began in December 2007 and ended in June 2009. This longest and deepest downturn for the U.S economy since the Great Depression has upended American priorities. The demand for cars, homes, and appliances has gone down as people cut back their spending. However, there are still American’s necessities besides the most obvious staples like food, clothing, and shelter. The following increasingly important things people can not live without.
High-speed Internet access
There has been decline in telephone service and cable TV. According to data from Telecommunication Industry Association, demand for broadband Internet slowed in 2008 and 2009.
Over 90% of all Internet connections in America will be high-speed by 2013.
Smartphones
Smart phones which can handle email, browse the Internet are of great demand. They become a lifeline for the harried multitaskers.
Portable computers
The sales of notebooks have risen dramatically over the last three years. According to the Consumer Electronics Association, this year’s sales are likely to twice as much as those of three years ago.
Portable computers of all sizes are becoming popular.
Movies
Avatar and other 3-D movies have made revolutions for the recent years. With high-grossing revenues, they made up 11 percent of the box office last year. Ticket sales saw rapid increase.
Music downloads
The increase in demand for music downloads can be seen through the decline in CD sales in 2009.
TV
Americans spend longer hours watching TV for its reasonable price compared to other entertainments like sport events, concerts, and DVD purchases. Another reason might be that more people out of work are killing time at home.
Pets
Americans have slashed spending on themselves during the economic slowdown, but they still spend on pet food, grooming, and vet care. The spending has risen by around 5% per year.
Coffee
The percentage of American adults drinking coffee has not changed over the recent few years. According to data from the National Coffee Association, 86% of coffee drinkers made their own at home.
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