Watch U.S. Consumption Numbers In Real-Time by Jeff Desjardins, Visual Capitalist
Consumption makes up about 69% of the U.S. GDP. The other components of GDP are investment (17%), government spending (17%), and net exports (-3%).
U.S. Consumption numbers are so important that central banks will stop at nothing to ensure they increase. It’s the reason for record-low interest rates and quantitative easing (QE) programs. Consumption, or lack thereof, is also why the controversial concept of helicopter money is even being floated as a policy option.
Numerous news headlines have trumpeted major concerns about inflation, which has been at 40-year highs. But how should investors handle inflation as it pertains to their portfolios? At the Morningstar Investment Conference on Monday, Kevin Dreyer, co-CIO of Gabelli Funds, outlined some guidelines for investing in the age of inflation. Historic inflation Dreyer started by Read More
U.S. Consumption in One Minute
Based on 2014 numbers, here is what is consumed every minute in the country:
- $600,000 in online sales
- $95,000 of online sales on Amazon
- $2,900,000 in credit card purchases
- 233,000 gallons of gasoline
- $150,000 of cigarettes
- $133,000 of lottery tickets
- $28,000 of books
- 340,000 apps downloaded
- $25,000 of video games
- 280,000 cups of coffee
- $115,000 of beer
- 6,000 pizzas and 20,000 hamburgers
- and even $100,000 of baby food
Watching these numbers tabulate in real-time is mesmerizing.
They are also concerning…
The fact that lottery ticket and cigarette sales tally to $280,000 every minute, and book sales are only $28,000 really puts things into perspective.
Watch U.S. Consumption Numbers In Real-Time
Advanced economies are typically heavily reliant on the domestic consumption of goods and services, and the United States is no exception. Today’s visualization shows U.S. consumption in real-time.
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