Interesting contrast between Indian and US economy

Indians are earning more and spending less. Average Indian is now saving and investing more rather than spending. This is in direct contrast to Americans. Here in US, people are earning less and spending more. Check this out

http://biz.yahoo.com/ap/070601/consumer_income_spending.html?.v=4


I guess I didn’t need a financial expert to say this. It’s a very obvious fact that we Indians are big savers. But it’s nice to see the proof in numbers.

Other interesting numbers

1. US GDP this quarter is 0.4%. Indian GDP is 9%
2. Indian key Inflation is 5.5% vs US 2.57%

Indian market is roaring right now. But it'll be interesting to see whether this kind of growth is sustainable in the long run. That's what is going to define whether Indian economy will transform from developing economy to developed.