People are not spending as much as they used to.
Four years on from the Great Recession, consumers are still stuck with stagnant wages and finding that inflation is eating away at disposable income.
According to a survey by Bankrate.com, about 72 percent are clutching their wallets more tightly. Bankrate's Financial analyst Doug Whiteman has some of the other reasons:
The need to save more and just general worries about the economy is why many consumers said they aren't spending more each month, Whiteman said.
The good news? After more than a generation of living on credit cards, Americans are finally getting in the habit of saving money.
But, consumer spending is the major driver of the economy and economic growth, so if people don't think they have a reason to spend and hold back -- they could be holding back the entire economy, Whiteman said.
So the old saying "The Business of America is Business" means more than ever these days, especially since a dip in consumer spending could be holding back the reigns of the economy.