Perspectives Blog

Half-time report on the U.S. consumer

Marie M. Schofield, CFA, Chief Economist and Senior Portfolio Manager | July 28, 2014

…to the slower growth trends within these latter two spending categories is health care (pharma and physician services), where real purchases are increasing about 2.5%, and also housing-related categories (furniture, building materials) which have climbed about 8% annually on the housing recovery. Consumption trends (real personal consumption expenditure) tend to be driven by the 87% share of non-durable goods and services purchases (Exhibit 1)….