Mike Shedlock – Debunking the Myth “Consumer Spending is 67% of GDP”

Consumer Spending Myth

It is widely believed that consumer spending accounts for approximately two-thirds of the economy. A few of us dispute that claim.

Reader Gary writes “You had made the comment more than once that manufacturing is really a much larger part of GDP than is frequently quoted. I could not find how you got there, but ZeroHedge has a nice Pie Chart that shows what you have stated.”