Debt, Delinquencies, and Consumer Spending
نویسنده
چکیده
Analysts forecasting the course of the U.S. economy pay close attention to consumer spending. Because personal consumption expenditures make up about twothirds of the country’s gross domestic product, factors that could influence consumer spending can have significant effects on the economy’s health. Among these factors, the sharp increase of household indebtedness and the rising share of income going to payments on credit cards, auto loans, mortgages, and other household loans have recently caused some concern. Could rising debt burdens precipitate a significant cutback in spending as apprehensive consumers take steps to stabilize their finances?
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