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Via @bkollmeyer, Deutsche Bank’s Research chart on discretionary spending across the global economy:
I have no access to the primary data on this, but if the chart is true, the global economy is ‘borked’.
One notable line here is for Ireland. Ireland’s economy is heavily dependent on personal consumption expenditure. Here are the latest data:
PC as % of modified total demand |
PC as % of GNI* | |
1995-1999 | 58.8 | 57.6 |
2000-2007 | 54.7 | 55.2 |
2007 | 54.1 | 56.7 |
2008-2014 | 62.8 | 63.8 |
2015-2018 | 59.4 | 55.4 |
2019 | 58.7 | NA |
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