US consumer spending

US consumer spending is the engine of economic growth and is close to 70% of GDP. According to a recent survey by the Harris Poll, 71% of Americans say they miss socializing in restaurants and bars and 61% say they miss shopping in stores. Growing percentages of people say they’re planning on splurging on vacations, clothes, cars and sporting events when things return to normal. As the “personal savings to GDP” ratio is at multi-decade highs, US consumers have the firepower to spend and maintain the economic cycle.

US consumer spending
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