U.S. Economy Contributes $11T to Consumer Spending

The video discusses the significant role of consumer spending in the US economy, which accounts for nearly 70% of economic activity. It highlights factors such as job growth, falling gasoline prices, and lower borrowing costs that may bolster household purchases and protect the US from global economic challenges. The video also notes that household purchases have grown by an average of 2% during the ongoing economic recovery, emphasizing the US's position as a major driver of consumer demand.

What percentage of the US economy is attributed to consumer spending?

What factors are mentioned as contributing to the potential increase in household purchases?

How much do household purchases make up of the US economy?

What is the average increase in household purchases during the recovery?

According to the text, what is the biggest driver of consumer demand in the US?