Saturday
October 22. 70% of the U.S. economy, measured in GDP is consumer spending.
It is said we are a consumer-driven economy. The health of this economy depends
on individuals’ ability to purchase homes, cars, appliances and vacations. When
we are looking for a recovery from the current recession, we have to ask
ourselves the health of the U.S. household.
So what are the household metrics?
Ask
Dr. Econ
How has the percentage of consumer debt compared to household income changed over the last few decades? What is driving these changes? (July 2009)
Great question. It looks like you want to know how household
debt has grown over time relative to disposable personal income.1
Or, even more to the point, whether our debts are increasing faster than our
incomes. This is an important and timely question in the challenging economic
environment of 2009, as the financial crisis and economic recession have
affected both credit and incomes. Let’s see what I have for you!
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