Part 7 of a series about Taxing Businesses

As corporate savings decreased (as a consequence of increasing the number of pass-through businesses), it was not replaced by personal savings but by personal consumption. Since the 1980s, consumption as a percent of GDP, went from around 60% to 68% mostly due to more money spent on services.


Personal Consumption

Data source: Federal Reserve Economic Data

The codes used to download data:

  • DDURRE1A156NBEA   Durable goods
  • DSERRE1A156NBEA    Services
  • DNDGRE1A156NBEA   Nondurable goods,

Article by Visualizing Economics