Temporary support for growth #3: unusual consumer behaviour
US REAL CONSUMER SPENDING, JAN 2019=100
150
150
140
140
DURABLE GOODS
130
130
PRE-COVID TREND
120
120
110
110
100
100
90
90
SERVICES EXCLUDING IMPUTED RENT
NON-DURABLE GOODS
80
80
70
70
2016 2017 2018 2019 2020 2021 2022 2023 2024
1
Sources: BEA, NBER
29
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