Growth in Nominal Spending Has Crashed
Professor David Beckworth’s blog has a very interesting chart on the trend of nominal spending growth since 1960. It shows strongly growing spending until the early 1980’s, followed by a moderation until around 2007, and now a crash.
SMA Comment: It will be interesting to see if nominal spending can recover significantly from here. There will be a trend reversal, but the question will be to what degree.
Click on chart for larger image:
Source:
http://macromarketmusings.blogspot.com/2009/11/global-nominal-spending-history.html
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