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Who's Buying: Executive Summary of Household Spending, 3rd Edition
New Strategist Publications, Inc., Dec 2007, Pages: 178
Welcome to the 3rd edition of Who’s Buying: Executive Summary of Household Spending. This report presents a broad overview of household spending in the year 2005. With this report in hand, students and researchers can gain important insights into consumer spending patterns and how those patterns differ by age, race, household type, region, and other significant demographic characteristics.
Consumer spending is the result of a complex mix of wants and needs, hopes and fears. This mix determines the success of individual businesses and the health of our economy. Knowing how consumers spend their dollars is the key to understanding where our economy is headed. Who’s Buying: Executive Summary of Household Spending is for those who want to know the big picture of who does what with their money.
Who’s Buying: Executive Summary of Household Spending is based on data collected by the Bureau of Labor Statistics’ Consumer Expenditure Survey, an ongoing, nationwide survey of household spending. This report presents the average spending figures collected and published by the Bureau of Labor Statistics (BLS). It also presents indexed spending figures, showing at a glance which households spend the most on products and services. This report analyzes spending for the following demographic segments: age of householder, household income, high-income households, age by income, household type, region, region by income, metropolitan area, race and Hispanic origin of householder, educational attainment of householder, household size, housing tenure, earners in the household, and occupation of householder. The Bureau of Labor Statistics’ Consumer Expenditure Survey is a complete accounting of household expenditures, including everything from big-ticket items such as homes and cars, to small purchases like laundry detergent and videos. The survey does not include expenditures by government, business, or institutions. The lag time between data collection and publication is about two years. The data in this book are from the 2005 Consumer Expenditure Survey, unless otherwise noted. For more about the Consumer Expenditure survey, see the appendix at the end of this report.
The data in Who’s Buying: Executive Summary of Household Spending reveal how American households allocate their spending. The starting point for all calculations is the average household spending data collected by the Consumer Expenditure Survey. These are shown in the average spending tables. The indexed spending tables were produced and are based on the average figures. The indexed spending tables reveal whether households in a given segment spend more or less than the average for all households (or for all households in that segment), and by how much. These two types of tables are described below.
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