Baby Boomers Spending Down Sharply

image Results from a new Gallup poll show that Baby boomers’ self-reported average daily spending of $64 is down sharply from an average of $98 in 2008.  However, baby boomers (the largest generational group of Americans) are not alone in reducing spending, all generations showing declines from last year.

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According to Gallup’s estimates, 36% of U.S. adults are part of the baby boom generation (born between 1946 and 1964), making it the largest of the five most commonly defined generations. msdzdmq3w0skv7qirnmjka

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With baby boomers constituting the largest bloc of U.S. consumers, their spending habits have a proportionately greater effect on the economy, given that consumer spending accounts for about two-thirds of the total gross domestic product.

Boomers’ Spending, Like Other Generations’, Down Sharply

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