The way in which Americans allocate their finances
The Impact of Consumer Spending on U.S. GDP The Visual Capitalist says consumer spending represents 68% of U.S. GDP, with much of this used for housing, transportation, and healthcare costs. Today’s graphic shows the average annual expenditures of Americans, based on data from the Consumer Expenditures Survey 2023 by the Bureau of Labor Statistics. Stay safe […]
Even as inflation continues to increase, Americans are still maintaining their spending habits.
Americans Continue to Spend Despite Rising Inflation According to Statista, inflation in the United States is on the rise, but that hasn’t stopped Americans from continuing to spend. Census data shows that monthly retail and food services sales have remained steady through July, indicating that consumers are still willing to open their wallets despite economic […]
Consumers are Relying on Credit Much More than in the Past
[ad_1] A new report from Wells Fargo says credit is getting more expensive and likely to become harder to access in the wake of the recent so-called banking crisis. Their report looks at the degree to which credit has sustained consumer spending so far and how diminished access to credit could negatively impact consumer spending. […]