America’s $19 Trillion Consumer Economy in One Chart
America’s $19 Trillion Consumer...
America’s $19 Trillion Consumer Economy in One Chart
The world’s largest economy also is the world’s largest consumer economy. Here’s what Americans spend their money on.
Where Americans Spend Their Money
America’s consumer class spent nearly $19 trillion on goods and services in 2023.
For context, this was about 68% of the U.S. GDP that year. It was also larger than China’s overall GDP that year as well ($17.8T).
🏠 Housing & Utilities $3.3T Services
🩺 Health care $3.1T Services
💳 Financial services
& Insurance $1.4T Services
🍽️ Food & Accommodations $1.4T Services
🎭 Entertainment $739B Services
🚕 Transportation $617B Services
🛠️ Other services $2.1T Services
🛒 Groceries & Takeout $1.4T Goods
🚗 Vehicles $750B Goods
📺 Household Furnishings $480B Goods
🏕️ Sports Vehicles
& Goods $636B Goods
👗 Clothing & Footwear $510B Goods
⛽ Gas $467B Goods
📦 Other goods $1.8T Goods
🇺🇸 Total $18.8T
Housing and utilities ($3.3T) and health care ($3.1T) were the top household expenditure categories overall.
Meanwhile, Americans spent the most money on groceries ($1.4T) in the goods category.
In case these numbers seem too big to comprehend, we’ve also broken down household expenditure by year and by month.
Comparative figures may vary as insurance expenditure can sometimes be included within a broader category (housing, transportation), or spun-off on its own.
In a similar vein, another graphic from eight years ago provides some other useful insights: how the share of each category’s expenditure has changed since the 1940s.
While the data isn’t as recent, other trends are visible: health care and housing expenditure have been trending up, clothing and food have been coming down.
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