Economists have warned a drop in US consumer spending could spark the country's first recession in 2017 after two key indexes of consumer confidence both fell. Economists said slowing job growth, the dwindling effect of the 10 years 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.
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.