{"id":41037,"date":"2011-10-28T12:32:57","date_gmt":"2011-10-28T17:32:57","guid":{"rendered":"http:\/\/thesocietypages.org\/socimages\/?p=41037"},"modified":"2011-11-09T14:14:21","modified_gmt":"2011-11-09T19:14:21","slug":"changes-in-u-s-consumer-spending-2007-2010","status":"publish","type":"post","link":"https:\/\/thesocietypages.org\/socimages\/2011\/10\/28\/changes-in-u-s-consumer-spending-2007-2010\/","title":{"rendered":"Changes in U.S. Consumer Spending, 2007-2010"},"content":{"rendered":"<p><em><a href=\"http:\/\/www.economist.com\/blogs\/dailychart\/2011\/10\/us-consumer-spending?fsrc=scn\/tw\/te\/dc\/hardtimes\" target=\"_blank\">The Economist<\/a><\/em> posted a graph, based on Bureau of Labor Statistics data, that shows how U.S. consumer spending changed between 2007 and 2010. The results provide a good snapshot of the economic trade-offs Americans are making (i.e., we&#8217;re buying more canned veggies and eating out less), as well as which industries are taking the biggest hit as consumers redefine their products as less essential.<\/p>\n<p>The &#8220;nominal&#8221; numbers refer to the unadjusted overall changes in spending; the &#8220;real&#8221; numbers are adjusted for the fact that prices rose by about 5.2% on average, so consumers are getting less for what they spend. So the light blue bars tell you the absolute change in what we&#8217;re spending; the dark blue bars, the change in spending relative to how much we&#8217;re buying. When adjusted for price inflation, consumer spending fell by about 8%:<\/p>\n<p><a href=\"https:\/\/thesocietypages.org\/socimages\/files\/2011\/10\/spending.jpg\" data-rel=\"lightbox-image-0\" data-rl_title=\"\" data-rl_caption=\"\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium wp-image-41038\" title=\"\" src=\"https:\/\/thesocietypages.org\/socimages\/files\/2011\/10\/spending-500x564.jpg\" alt=\"\" width=\"500\" height=\"564\" srcset=\"https:\/\/thesocietypages.org\/socimages\/files\/2011\/10\/spending-500x564.jpg 500w, https:\/\/thesocietypages.org\/socimages\/files\/2011\/10\/spending.jpg 595w\" sizes=\"auto, (max-width: 500px) 100vw, 500px\" \/><\/a><\/p>\n<p>Via <a href=\"http:\/\/tpmdc.talkingpointsmemo.com\/2011\/10\/canned-veggies-and-teetotaling----the-great-recession-in-one-chart.php?ref=fpblg\" target=\"_blank\">Talking Points Memo<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Economist posted a graph, based on Bureau of Labor Statistics data, that shows how U.S. consumer spending changed between 2007 and 2010. The results provide a good snapshot of the economic trade-offs Americans are making (i.e., we&#8217;re buying more canned veggies and eating out less), as well as which industries are taking the biggest [&hellip;]<\/p>\n","protected":false},"author":50,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[229,36],"class_list":["post-41037","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-consumption","tag-economics"],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/posts\/41037","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/users\/50"}],"replies":[{"embeddable":true,"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/comments?post=41037"}],"version-history":[{"count":4,"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/posts\/41037\/revisions"}],"predecessor-version":[{"id":41726,"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/posts\/41037\/revisions\/41726"}],"wp:attachment":[{"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/media?parent=41037"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/categories?post=41037"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/tags?post=41037"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}