economists have predicted a drop in US consumer spending could spark the country 's first recession in 10 years after two key indexes of consumer confidence both fell . Economists said that job growth , the dwindling effect of the 2017 tax cuts and anticipated price cuts due to the trade deficit with China could lead to a drop in consumer spending , which is responsible for around 80 % of the US economy .
Economists have warned a drop in US consumer spending could spark the country's first recession in 10 years after two key indexes of consumer confidence both fell. Economists said slowing job growth, the dwindling effect of the 2017 tax break and anticipated price increases due to the trade war with China could lead to a drop in consumer spending, which is responsible for around 70% of the US economy.