Consumer spending surges over Christmas
PwC economists analyse consumer spending trends in western countries
Recent trends in consumer spending indicate that year-on-year growth in most western economies is in the 2-4% range in real terms (see Figure 1), signalling good news for retailers and businesses this festive season.
“Consumer spending is fundamental to businesses and economies, and, in many of the advanced economies that we track, accounts for around two-thirds of economic activity. It is also a key driver of corporate revenues, which, in turn, correlate positively with the hiring intentions of most businesses,” said Richard Boxshall, Senior