This Real-Time Chart Shows Just How Much American Consumers Are Spending Right Now

Visual Capitalist  |

Advanced economies are typically heavily reliant on the domestic consumption of goods and services, and the United States is no exception. Today’s visualization shows U.S. consumption in real-time.

Consumption makes up about 69% of the U.S. GDP. The other components of GDP are investment (17%), government spending (17%), and net exports (-3%).

Consumption numbers are so important that central banks will stop at nothing to ensure they increase. It’s the reason for record-low interest rates and quantitative easing (QE) programs. Consumption, or lack thereof, is also why the controversial concept of helicopter money is even being floated as a policy option.

U.S. CONSUMPTION IN ONE MINUTE

Based on 2014 numbers, here is what is consumed every minute in the country:

  • $600,000 in online sales
  • $95,000 of online sales on Amazon
  • $2,900,000 in credit card purchases
  • 233,000 gallons of gasoline
  • $150,000 of cigarettes
  • $133,000 of lottery tickets
  • $28,000 of books
  • 340,000 apps downloaded
  • $25,000 of video games
  • 280,000 cups of coffee
  • $115,000 of beer
  • 6,000 pizzas and 20,000 hamburgers
  • and even $100,000 of baby food

Watching these numbers tabulate in real-time is mesmerizing.

They are also concerning…

The fact that lottery ticket and cigarette sales tally to $280,000 every minute, and book sales are only $28,000 really puts things into perspective.

Source: Couponbox.com


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