{"id":346354,"date":"2025-08-02T20:56:30","date_gmt":"2025-08-03T01:56:30","guid":{"rendered":"https:\/\/michigandigitalnews.com\/index.php\/2025\/08\/02\/consumers-vote-on-economic-prospects\/"},"modified":"2025-08-02T20:56:30","modified_gmt":"2025-08-03T01:56:30","slug":"consumers-vote-on-economic-prospects","status":"publish","type":"post","link":"https:\/\/michigandigitalnews.com\/index.php\/2025\/08\/02\/consumers-vote-on-economic-prospects\/","title":{"rendered":"Consumers Vote on Economic Prospects"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div id=\"post-57465\">\n\t\t\t\t<!-- .entry-header --><\/p>\n<div class=\"entry-content\">\n<p>Durables consumption has experienced extreme volatility over the last 9 months (since the election). However, services and nondurables should follow the permanent income hypothesis \u2014 at least halfway (DSGE\u2019s usually incorporate about 50% hand-to-mouth consumers). So what do we see?<\/p>\n<p><a href=\"https:\/\/econbrowser.com\/wp-content\/uploads\/2025\/08\/ndursvcs_durconspix.png\"><img fetchpriority=\"high\" fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-57466\" src=\"https:\/\/econbrowser.com\/wp-content\/uploads\/2025\/08\/ndursvcs_durconspix.png\" alt=\"\" width=\"907\" height=\"561\" srcset=\"https:\/\/econbrowser.com\/wp-content\/uploads\/2025\/08\/ndursvcs_durconspix.png 907w, https:\/\/econbrowser.com\/wp-content\/uploads\/2025\/08\/ndursvcs_durconspix-300x186.png 300w, https:\/\/econbrowser.com\/wp-content\/uploads\/2025\/08\/ndursvcs_durconspix-768x475.png 768w, https:\/\/econbrowser.com\/wp-content\/uploads\/2025\/08\/ndursvcs_durconspix-624x386.png 624w\" sizes=\"(max-width: 907px) 100vw, 907px\"\/><\/a><\/p>\n<p><em><strong>Figure 1:<\/strong> Sum of nondurables and services consumption (blue, left log scale), 2023M11-2024M10 stochastic trend (light blue line, left scale),durables consumption (red, right log scale), 2023M11-2024M10 stochastic trend (light red, right scale), all in bn.Ch.2017$ SAAR. Orange shading denotes Trump 2.0 administration; orange dashed line at 2025M04. Source: BEA, July release, and author\u2019s calculations.<\/em><\/p>\n<\/p><\/div>\n<p><!-- .entry-content --><\/p>\n<footer class=\"entry-meta\">\n\t\t\tThis entry was posted on <a href=\"https:\/\/econbrowser.com\/archives\/2025\/08\/consumers-vote-on-economic-prospects\" title=\"6:27 pm\" rel=\"bookmark\"><time class=\"entry-date\" datetime=\"2025-08-02T18:27:34-07:00\">August 2, 2025<\/time><\/a><span class=\"by-author\"> by <span class=\"author vcard\"><a class=\"url fn n\" href=\"https:\/\/econbrowser.com\/archives\/author\/menzie_chinn\" title=\"View all posts by Menzie Chinn\" rel=\"author\">Menzie Chinn<\/a><\/span><\/span>.\t\t\t\t\t\t\t\t<\/footer>\n<p><!-- .entry-meta -->\n\t<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/econbrowser.com\/archives\/2025\/08\/consumers-vote-on-economic-prospects\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Durables consumption has experienced extreme volatility over the last 9 months (since the election). However, services and nondurables should follow the permanent income hypothesis<\/p>\n","protected":false},"author":1,"featured_media":346355,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[155],"tags":[],"_links":{"self":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/346354"}],"collection":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/comments?post=346354"}],"version-history":[{"count":0,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/346354\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media\/346355"}],"wp:attachment":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media?parent=346354"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/categories?post=346354"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/tags?post=346354"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}