One measure the government looks at when creating the budget and to see how the economy is doing is consumer spending. This is important, especially during the holidays when people spend more. Guildford and Timiraos (2023) explained that in September, spending was .7%, and in October, it was .2%, a sharp decline. What would account for the lack of spending?

Answer rating: 100% (QA)

The sharp decline in consumer spending from September to October as reported by Guildford and Timiraos 2023 could be attributed to several factors 1 I... View the full answer