The rate at which consumers are clipping coupons has risen to its highest since just before the 2007-09 recession, and that's bad news for the economy, says Coupons.com CEO Steven Boal.
His website follows how frequently people view and print coupons and their redemption rate.
Coupon.com's Internet Coupon Index shows a marked increase in coupon offers and demand now, Boal tells CNBC.
The trend is eerily reminiscent of the pattern in late 2007, before the recession broke out in December that year.
"The index tends to run in a range," Boal says. "In September, October, November in 2007, it popped out of its range for the first time... And, for the first time since then, we are seeing a tripping out of the range."
The payroll tax increase and rising food and gas prices likely are sparking the coupon activity...
Read full article...
More on the economy:
What the "single best recession forecaster" is saying now
Astonishing chart suggests there's virtually zero chance of recession now
Controversial post: Some facts about the economy you won't find on the nightly news