{"id":1531458,"date":"2025-04-21T01:35:00","date_gmt":"2025-04-21T05:35:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1531458"},"modified":"2025-04-21T01:35:00","modified_gmt":"2025-04-21T05:35:00","slug":"visualizing-americas-19-trillion-consumer-economy-in-one-chart","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/visualizing-americas-19-trillion-consumer-economy-in-one-chart\/1531458\/","title":{"rendered":"Visualizing America’s $19 Trillion Consumer Economy In One Chart"},"content":{"rendered":"

Visualizing America’s $19 Trillion Consumer Economy In One Chart<\/span><\/p>\n

\n

To no one\u2019s surprise, the\u00a0world\u2019s largest economy<\/a>\u00a0is also the world\u2019s largest consumer economy.<\/p>\n

But how much do Americans collectively spend on the goods and services they need? And what items draw the largest share?\u00a0<\/p>\n

Visual Capitalist’s Pallavi Rao visualizes<\/a> data from the\u00a0Bureau of Labor Statistics<\/a>\u00a0for further analysis.<\/p>\n

<\/a><\/p>\n

Where Americans Spend Their Money<\/h2>\n

America\u2019s consumer class spent nearly $19 trillion on goods and services in 2023.<\/p>\n

For context, this was about 68% of the U.S. GDP that year. It was also larger than China\u2019s overall GDP that year as well ($17.8T).<\/p>\n

<\/a><\/p>\n

Housing and utilities<\/strong>\u00a0($3.3T) and\u00a0health care<\/strong>\u00a0($3.1T) were the top household expenditure categories overall.<\/p>\n

Meanwhile, Americans spent the most money on groceries ($1.4T) in the goods category.<\/p>\n

In case these numbers seem too big to comprehend, we\u2019ve also broken down household expenditure\u00a0by year<\/a>\u00a0and\u00a0by month<\/a>.<\/p>\n

Comparative figures may vary as insurance expenditure can sometimes be included within a broader category (housing, transportation), or spun-off on its own.<\/p>\n

In a similar vein, another graphic from\u00a0eight years ago<\/a>\u00a0provides some other useful insights: how the share of each category\u2019s expenditure has changed since the 1940s.<\/p>\n

While the data isn\u2019t as recent, other trends are visible: health care and housing expenditure have been trending up, clothing and food have been coming down.<\/p>\n

The Pros and Cons of the Service Economy<\/h2>\n

Tellingly, services account for nearly 70% of America\u2019s personal consumption expenditure.<\/p>\n

This is matched by the supply side as well: nearly 80% of America\u2019s jobs are in the service sector.<\/p>\n

America\u2019s transition away from manufacturing into services\u2014both as producer and consumer\u2014is a story with many episodes and arcs. While it has driven the growth of\u00a0high-value technology<\/a>\u00a0and financial companies, it has also resulted in the loss of blue-collar jobs in America.<\/p>\n

This context is particularly relevant in the Trump administration\u2019s second-term.<\/p>\n

Broad-based\u00a0tariffs on imported goods<\/a>\u00a0have been declared to reduce trade deficits and to incentivize companies to move their manufacturing back into the country. However, modern manufacturing is built off global supply chains and just-in-time shipping, and economists worry that the disruption will only raise prices for Americans.<\/p>\n

Wondering what China\u2019s economy looks like broken down by sector? Check out:\u00a0China\u2019s $18.6 Trillion Economy in One Chart<\/a>\u00a0for a quick overview.<\/em><\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nSun, 04\/20\/2025 – 21:35<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/personal-finance\/visualizing-americas-19-trillion-consumer-economy-one-chart<\/a>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Visualizing America’s $19 Trillion Consumer Economy In One Chart To no one\u2019s surprise, the\u00a0world\u2019s largest economy\u00a0is also the world\u2019s largest consumer economy. But how much…<\/p>\n","protected":false},"author":0,"featured_media":1531459,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1531458","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1531458","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1531458"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1531458\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media\/1531459"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1531458"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1531458"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1531458"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}