GS: Will Consumer Spending Ever Recover?Rupert Hargreaves
Consumption growth or household spending has slowed meaningfully since the financial crisis. Over the past decade, consumption growth in advanced economies has averaged a compound annual growth rate of 2.9% between 2004 and 2014, compared to a CAGR of 4.3% between 1994 and 2004.
Consumption growth has slowed considerably due to a number of factors, including negligible wage growth, job stagnation, rising income inequality and less . . .
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