Insight
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.
Table of contents
- Millennials vs Baby Boomers: why US consumption growth will remain stubbornly low
Tables and charts
No table or charts specified
What's included
This report contains:
Other reports you may be interested in
Commodity Market Report
Global zinc strategic planning outlook Q1 2024
Rising mine and refined production and slowing demand growth will result in a refined surplus in the second half of this decade.
$10,000
Commodity Market Report
LNG short-term outlook: March 2024
Monthly update of LNG market outlook, including our detailed price forecast.
$4,000
Commodity Market Report
Global aluminium short-term outlook March 2024
Prices rally in late March on Yunnan supply concerns and bullish fund positioning.
$5,000