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12-14-2009, 03:36 PM #1
Holiday gift buying / consumer spending
What portion of the U.S. economy is represented by holiday gifts given in December?
—John Stratton, Baltimore, Md.
Total consumer spending accounts for about 70% of the Gross Domestic Product. This spending includes housing, transportation, food, clothing, and more. In 2008, according to the U.S. Bureau of Labor Statistics, the average household expenditure was $50,486. Of that amount, the National Retail Federation reports that consumers spent $535 on year-end gifts.
That would mean that holiday gifts represent about .74% (about 3/4 of one percent) of the economy.
http://www.parade.com/askmarilyn/2009/1 ... 13-09.htmlNO AMNESTY
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