Forecast: Household Expenditure on Total Final Consumption in the US

The household expenditure on total final consumption in the US was observed to be 17.8 trillion USD in 2023. From 2024 onward, forecasts indicate a continuous increase, reaching up to 21.852 trillion USD by 2028. The year-on-year growth is anticipated to range between 4% and 6% annually, with a compound annual growth rate (CAGR) of approximately 5% over the five-year forecast period.

Future trends to watch for include:

• Potential shifts in consumer behavior due to economic policies and interest rate adjustments.
• The impact of technological advancements and digitalization on consumption patterns.
• Influence of demographic changes, including aging population dynamics, on spending habits.
• Monitoring inflation rates and their effect on real household purchasing power.