I see headlines and articles discussing how consumer spending is driving, or of late, possibly slowing, the economy. But if not for people buying non-essential products and services, what else would drive the economy? Everyone needs food, shelter, and clothing. Many need cars, depending on their location. But I take it that spending on necessities is not enough, especially non-consumable or long lasting things like houses and cars.
In: Economics
I’m surprised by the first answers. Isn’t USA on the top of technology? Many of the major TI companies (Apple, Microsoft, Amazon, Alphabet and Meta) are American, so they drive TI evolution, in a sense. I guess that would be the major economy’s engine.
Apple still relies much on “consumer spending” but most of these companies profit on virtual services.
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