Muted Profit Growth, Falling Retail Ownership, Improving FDI and More...
After the pandemic, consumers shifted spending from services to goods in 2020 due to COVID restrictions, then back to services from 2021-2024 as demand for services reemerged. This week’s chart displays real personal consumption expenditure (PCE) of goods and services, adjusting by their respective deflators for comparison. As of September 30th, 20
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Over the three and a half decades between 1972 and 2007, average spending as a percentage of disposable income increased from roughly 85 percent to more than 93 percent.3 For most of that period, consumer spending was not only by far the largest component of American GDP—it was also the fastest growing. In other words, even as income became ever mo
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Real private final consumption expenditure has been averaging at 3.5-4 per cent over the past five years despite the exuberant leveraged spending. And while the contraction in financial savings was seen as a sign of improving household confidence, it ironically accompanied a languid actual consumption, indicating faltering real incomes.
Indeed, the
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Taken together, new technologies and financial products are blurring the lines between investing, consuming, experiencing, and participating. COVID was a catalyst; will the shift persist?