Consumer Spending Free Essay, Term Paper and Book Report
Business Problem Paper: Consumer Spending
The sharp rise in household debt and delinquency rates over the last year has led to speculation that consumers will soon revert to more cautious spending behavior. Yet an analysis of the past relationship between household liabilities and expenditures provides little support for this view (McCarthy, 1997, p. 1).
The above is an expert analysis of consumer spending as it related to credit cards just over a decade ago. Much has changed in the 10 or so years since this article was originally published by the Federal Reserve Bank of New York, or has it? As McCarthy suggested back then, consumer spending is a tremendously important factor for economists when forecasting the course of the US economy, since personal consumption makes up about two thirds of the countrys gross domestic product. Factors such as increasing credit card debt, mortgages, auto and other loans can have a significant effect on the countrys economy. In these financially difficult, when sub-prime mortgage and talk of recession dominate financial discussions in the p......
Word Count: 2805
Page Count: 11.2 (250 words a page / double spaced)
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