Non-Essentials, And The Business Cycle

Menzie Chinn
By Menzie Chinn of Econbrowser.com
Professor of Public Affairs and Economics at the University of Wisconsin •

Torsten Slok provides an illuminating picture of discretionary spending (y/y) by category. A year ago, I wrote about how the lack of a clear signal of discretionary spending failed to signal a slowdown. And indeed, no recession followed.

Free photos of Recession

Image Source: Pixabay
 

Torsten Slok provides this illuminating picture of discretionary spending (y/y), by category.
 


A year ago, I wrote about how the lack of clearly slowing discretionary spending failed to signal a slowdown. And indeed no recession followed. What would really be helpful now is the corresponding picture from Andreolli et al. (2024), updated.
 

Source: Andreolli et al (2024).

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