Insight
| |
0 Pages

Millennials vs Baby Boomers: why US consumption growth will remain stubbornly low


Millennials vs Baby Boomers: why US consumption growth will remain stubbornly low

Report summary

To understand the US consumer you must understand US demographics. Two generations dominate US population – the ‘Baby Boomers’ and the 'Millennials'. How these generations choose to live and spend will ultimately determine the pace of US consumption growth, and thus GDP growth to 2035. Using survey data and demographic forecasts this Insight explains why US consumption growth peaked in 1999, and perhaps more importantly explains why consumption growth is now close to half that rate. Given the demographic profile of the US, consumption growth is expected to remain subdued, held back by the reduced spend of the Baby Boomers as they retire. Given the change in spending behaviour of the Millennial generation - largely down to increased indebtedness - Millennials will fail to offset this decline. The US is headed for a sustained period of weak consumption growth. 

What's included?

This report includes 1 file(s)

  • US demographics Millennials vs Baby Boomers.pdf PDF - 1.66 MB

Description

This Macroeconomics and Global Trends Insight report presents our research on this key topic, and draws out the implications for economies and commodity markets.

This report delivers a clear understanding of our unique global economic outlook and identify risks and uncertainties to watch out for.

Wood Mackenzie's global trends and macroeconomic analysis underpins all our commodity demand analysis, ensuring we continually deliver an integrated and consistent view.

Our comprehensive understanding of commodity markets gives us a unique insight into the pace of global development and the risks associated with it.

  • Millennials vs Baby Boomers: why US consumption growth will remain stubbornly low
Requester's name : .............
Department : .............
Authoriser's Name : .............
Authoriser's signature : .............
Date : .............
Cost Centre : .............

Questions about this report?

Frequently Asked Questions

Mailenquiries@woodmac.com
  • Europe: +44 131 243 4699
  • Americas: +1 713 470 1900
  • Asia Pacific: +61 2 8224 8898
contact us

Why Wood Mackenzie?

Wood Mackenzie, a Verisk Analytics business, has been a trusted source of commercial intelligence for the world's natural resources sector for more than 40 years, empowering clients to make better strategic decisions with objective analysis and advice.

We work across every sector of oil, gas, power, renewables, chemicals, metals and mining, covering more than 150 countries. Our proprietary data and models are at the core of everything we do, ensuring our independent asset and company valuations are thoroughly robust and that we offer an accurate forward-looking view of economic indicators such as market supply, demand and price trends.

Our 500+ analysts are based in the regions they cover, cultivating an unrivalled depth of understanding to help clients accurately identify new opportunities, define their strategy and improve business performance.

At every stage, our teams readily collaborate and share their insight to provide an integrated perspective across entire industries. It is this unique and rigorous analytical approach that ensures we are recognised as the industry standard by the world’s most innovative organisations.