According to World Bank estimates, by how much did consumer spending decline as a result of the 40 percent drop in the index of consumer confidence between 2007 and 2009? Enter your answer in billions. For example, if your answer is $65 billion then enter 65

Question

Business

Marvin Nixon

29 March, 16:21

According to World Bank estimates, by how much did consumer spending decline as a result of the 40 percent drop in the index of consumer confidence between 2007 and 2009? Enter your answer in billions. For example, if your answer is $65 billion then enter 65

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Answers (1)

Know the Answer?

Emely Webster · Answer 1

Incomplete question. However, I will infer you want to know more about consumer spending.

Explanation:

Note that the World Bank gathers it's data from individual countries which forms it estimates about their economy.

Consumer spending put simply is the total amount of money spent by citizens on goods and services inside the economy. It forms part of the basis for calculating the Gross domestic product of an economy.