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Housing accounts for 33% of the average American household's total spending. According to The Motley Fool Ascent's breakdown of average monthly expenses, that $2,120 a month includes $385 on ...
American household spending has gone up by 23.4% on average. This was spurred by the pandemic and many people receiving stimulus checks. Check Out: 9 Easiest Ways To Maximize Your Savings in 2024...
Inflation has also impacted spending on major purchases. Balances on non-housing loans have more than doubled since 2003, totaling roughly $4.8 trillion, according to data from the New York ...
The primary classifications are by household or individual. The top quintile in personal income in 2022 was $117,162 [2] (included in the chart below). The differences between household and personal income are considerable, since 61% of households now have two or more income earners. [3]
The U.S. has produced the world's highest number of Nobel laureates in the economics field. [84] It is also the world's fourth largest high-technology exporter. [85] Consumer spending comprised 68% of the U.S. economy in 2022, [86] while its labor share of income was 44% in 2021. [87] The U.S. has the world's largest consumer market. [88]
This is a list of countries by household final consumption expenditure per capita, that is, the market value of all goods and services, including durable products (such as cars, washing machines, and home computers), purchased by households during one year, divided by the country's average (or mid-year) population for the same year.
Transportation services, another major spending group, increased 9.9% from February 2023 to February 2024, per the CPI. Data from the Bureau of Labor Statistics show that in 2022, Americans spent ...
The difference in housing costs from state to state is especially important. The Bureau of Economic Analysis has calculated that the regional price parity of U.S. states ranges from 84.4 in Mississippi (the cheapest state in which to live) to Hawaii at 119.3 (the most expensive state).