Table of Contents
- Scope and Themes
- What you need to know
- Definition
- Survey methodology
- Abbreviations and terms
- Abbreviations
- Terms
- Executive Summary
- Consumer spending keeps growing as Americans become wealthier
- Aging boomers shift spending share to 55-65 year olds
- Personal savings shrinks as consumers spend more
- Consumer debt grows with inflation while mortgage debt finances increased
buying power
- Blacks and Hispanics differ culturally in spending habits
- Women more reactionary when it comes to gas prices and interest rates
- Children in the household drive expenditures
- Gas prices likely to stay high, while interest rates stay reactive
- Background Factors
- Average consumer expenditures
- Figure 1: Average consumer expenditure, at current and constant prices,
2002-07
- Consumer confidence
- Figure 2: Consumer confidence levels and aggregate consumer
expenditures, 2001-06
- Figure 3: Change in aggregate consumer expenditure, by category, 2003-04
- Aging Boomers boost the spending of over-55s
- Figure 4: Growth of the U.S. population, by age, 2002, 2007 & 2012
- Figure 5: Share of total aggregate consumer expenditure, by age, 2001
and 2006
- Hispanics grow past black consumers in spending
- Figure 6: Population by race and Hispanic origin, 2002-12
- Figure 7: Share of total aggregate consumer expenditure, by
race/ethnicity, 2001 and 2006
- Americans becoming wealthier
- Figure 8: Distribution of households, by income, 2003 and 2006
- Nearly all parties financially aware
- Figure 9: Financially responsible party, by gender, November 2007
- Events impacting personal finance
- Figure 10: Events affecting personal finance, November 2007
- Attitudes towards spending and personal finance
- Figure 11: Attitudes towards personal finance, May 2006-June 2007
- Figure 12: Attitudes toward spending, November 2007
- Gender
- Figure 13: Attitudes towards personal finance, by gender, May 2006-June
2007
- Figure 14: Attitudes towards spending, by gender, November 2007
- Age
- Figure 15: Attitudes towards personal finance, by age, May 2006-June 2007
- Figure 16: Attitudes towards spending, by age, November 2007
- Household income
- Figure 17: Attitudes towards personal finance, by household income, May
2006-June 2007
- Figure 18: Attitudes towards spending, by household income, November 2007
- Race/ethnicity
- Figure 19: Attitudes towards personal finance, by race/ethnicity, May
2006-June 2007
- Figure 20: Attitudes towards spending, by race/ethnicity, November 2007
- Presence of children in the household
- Figure 21: Attitudes towards personal finance, by presence of children
in household, May 2006-June 2007
- Figure 22: Attitudes towards spending, by presence of children in
household, November 2007
- Economic Indicators
- Summary
- Gas prices
- Figure 23: Consumer confidence levels and change in annual average gas
prices, 1999-2007*
- Figure 24: Consumer expenditure on gasoline and motor oil, at current
and constant prices, 2002-07
- Figure 25: Consumer expenditures on gasoline and motor oil, as a
percentage of total expenditures, 2000-06
- How gas prices affect spending
- Figure 26: Expected impact of gas prices on spending, November 2007
- Figure 27: Changes in spending as a result of gas price rises, by
household income, November 2007
- Figure 28: Changes in spending as a result of gas price rises, by
gender, November 2007
- Increased spending
- Figure 29: Changes in spending as a result of gas price rises, by age,
November 2007
- How consumers have adjusted to gas prices
- Figure 30: Changes in spending due to rising gas prices over the past
year, November 2007
- Figure 31: Changes in spending due to rising gas prices over the past
year, by gender, November 2007
- Figure 32: Changes in spending due to rising gas prices over the past
year, by age, November 2007
- Figure 33: Changes in spending due to rising gas prices over the past
year, by household income, November 2007
- Figure 34: Changes in spending due to rising gas prices over the past
year, by race/ethnicity, November 2007
- Figure 35: Changes in spending due to rising gas prices over the past
year, by presence of children in household, November 2007
- Interest rates
- Figure 36: Consumer confidence levels and national federal funds rates,
1998-2007*
- Figure 37: Consumer expenditures on mortgage interest and charges, at
current and constant prices, 2001-06
- How interest rates affect spending
- Figure 38: Changes in spending due to changing interest rates, November
2007
- Figure 39: Cuts in spending due to rising interest rates, by age,
November 2007
- Figure 40: Cuts in spending due to rising interest rates, by household
income, November 2007
- Figure 41: Cuts in spending due to rising interest rates, by presence of
children in household, November 2007
- Figure 42: Cuts in spending due to rising interest rates, by
race/ethnicity, November 2007
- Increased spending
- Figure 43: Increase in spending due to falling interest rates, by age,
November 2007
- Unemployment
- Figure 44: Consumer confidence levels and annual unemployment rates,
1999-2007*
- How unemployment affects spending
- Figure 45: Changes in spending due to changing rates of unemployment,
November 2007
- Stock market
- Figure 46: Consumer confidence levels and the dow jones industrial
average, 1998-2007*
- How stock market performance affects spending
- Figure 47: Changes in spending due to the changing stock market,
November 2007
- Sources of and interest in financial news
- Figure 48: Sources of and interest in financial news, November 2007
- Figure 49: Sources of and interest in financial news, by gender,
November 2007
- Figure 50: Sources of and interest in financial news, by age, November
2007
- Figure 51: Sources of and interest in financial news, by household
income, November 2007
- Figure 52: Sources of and interest in financial news, by race/ethnicity,
November 2007
- Savings & Debt
- Summary
- Personal savings
- Consumer debt
- Personal savings
- Figure 53: Aggregate U.S. personal savings, at current and constant
prices, 2002-07
- Figure 54: Aggregate personal savings, by quarter, 2003-07
- Individual savings rate
- Figure 55: Changes in salary and saving position in past year, November
2007
- Figure 56: Changes in salary and saving position in past year, by
gender, November 2007
- Figure 57: Changes in salary and saving position in past year, by age,
November 2007
- Figure 58: Changes in salary and saving position in past year, by
household income, November 2007
- Figure 59: Changes in salary and saving position in past year, by
race/ethnicity, November 2007
- Figure 60: Changes in salary and saving position in past year, by
presence of children in household, November 2007
- Reasons for negative savings
- Figure 61: Reasons for negative savings, November 2007 Figure 62:
Reasons for negative savings, by age, November 2007
- Figure 63: Reasons for negative savings, by household income, November
2007
- Figure 64: Reasons for negative savings, by race/ethnicity, November 2007
- Figure 65: Reasons for negative savings, by presence of children in
household, November 2007
- Consumer debt
- Figure 66: U.S. debt per consumer unit, at current and constant prices,
2002-07
- Figure 67: Growth of total outstanding consumer debt and home mortgage
debt, 2000-07*
- Figure 68: Aggregate U.S. consumer debt and debt service as percentage
of income, 2002-07*
- Types and amounts of debt
- Figure 69: Types of loans carried, May 2006-June 2007
- Figure 70: Average levels of indebtedness, by type of debt, November 2007
- Figure 71: Average levels of indebtedness, by type of debt, by age,
November 2007
- Figure 72: Average levels of indebtedness, by type of debt, by household
income, November 2007
- Figure 73: Average levels of indebtedness, by type of debt, by presence
of children in the household, November 2007
- Future Trends
- Gas prices
- Interest rates
- Mortgage crisis
- Economy braces for consumer pullback
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