Millennial Consumption and Economic Stability

The U.S. economy's reliance on consumer spending is highlighted, with roughly 70% of the economy driven by consumption. It is crucial to maintain a solid base of young consumers, primarily millennials aged 20 to 45, who have shown consistent spending behaviors similar to previous generations, albeit with delays. As the oldest millennials approach their late 40s, consumption rates are expected to remain robust for the next several years, supporting economic stability through 2032 and beyond. Past economic fluctuations demonstrate that even during industrial recession periods, millennial consumption has sustained the economy, leading to a positive outlook for near-term consumption levels.