Demo Memo's Cheryl Russell reports that the average household boosted its spending on a variety of products and services between 2014 and 2015.
According the the Bureau of Labor Statistics's Consumer Expenditure Survey, furniture (29.6%), new cars and trucks (25.1%), alcoholic beverages (11.1%), reading material (10.5%), women's clothing (8%), restaurant/takeaway food (7.8%), and entertainment (4.1%) all charted spending gains. Some essentials, such as gasoline, significantly declined.
Spending declines, 2014-15 (in 2015 dollars)
Natural gas: –4.2%
Mortgage interest: –3.3%
Vehicle insurance: –3.1%