How changing consumer habits have impacted the US economy

With the US economy stabilising over the past few years since the financial crisis, and a December rate hike looking increasingly more likely, the US recovery is underway.

In an economy where 70% of the GDP spend comes from consumers, the average US consumer has played a significant role in this recovery. Smarter spending habits, lower oil prices, and strong employment figures are just some of the factors that have helped propel consumer confidence back to attractive highs for investors. The US consumer today is very different to the US consumer prior to the financial crisis. Household levels of debt as a percentage of income are now at a decade-long low and spending levels are rising at a slow, consistent pace. Instead of spending wholeheartedly, retail s...