According to the Bank of America Research Institute report, consumer spending, which is the top one-third of revenue, increased 4% in November compared to the previous year, which is the fastest growth rate in 4 years. In contrast, household spending at least one-third of the income increased by less than 1%. Despite this K-type trend, Bank of America believes that this dynamic has not put overall economic growth at risk. From a macroeconomic perspective, the consumption expenditure of high- and middle-income households accounts for most of the total consumption in the US, so the economy can continue to grow in its current form for some time. In the third quarter of this year, US GDP grew by 4.3%, and the key driver was consumer spending.

According to the Bank of America Research Institute report, consumer spending, which is the top one-third of revenue, increased 4% in November compared to the previous year, which is the fastest growth rate in 4 years. In contrast, household spending at least one-third of the income increased by less than 1%. Despite this K-type trend, Bank of America believes that this dynamic has not put overall economic growth at risk. From a macroeconomic perspective, the consumption expenditure of high- and middle-income households accounts for most of the total consumption in the US, so the economy can continue to grow in its current form for some time. In the third quarter of this year, US GDP grew by 4.3%, and the key driver was consumer spending.