Consumer outlook critical to 2020 growth

It is nearly impossible to overstate just how important the consumer has become to the health of the economy in 2020. Because fixed investment and net exports have become a drag on growth, household consumption remains the most important driver of overall economic activity, and the difference between modest growth near 2% and an end to the current business cycle.  Consumption has been king since the second quarter of 2014—when the recovery from the Great Recession had finally taken hold, and the