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The U.S. economy is driven by consumer spending, which makes up close to 70% of the Gross Domestic Product (GDP). Even though the economic indicators are solid at the moment, the slightest apprehension by a small number of consumers can dramatically change the economic outlook.
Dr. Dan Geller, a behavioral economist and the developer of the Money Anxiety Index, makes this very point. Geller says a 5% reduction in spending comes out to 3.5% of the U.S. GDP. This amounts to more than the projected GDP for 2019.