August 30, 2016

DEFLATION CAN NOT BE OVERSTATED:

Chart of the Day (Mark J. Perry, 8/29/16, AEI Ideas). 

energy

The trend in the chart above shows another remarkable energy milestone for which we can thank hydraulic fracturing and horizontal drilling, and the resulting shale revolution. In 2016 so far through July, US consumer spending on "energy goods and services" (includes gasoline and other energy goods, and of electricity and natural gas services) has been only 3.8% of total personal consumer expenditures. As the chart shows, that marks the first time in US history back to 1929 that the share of consumer spending on energy has been below 4%. 






Posted by at August 30, 2016 11:32 AM

  

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