Percentage of economy--retail vs. manufacturing.

[Skidmore]

I just heard an ABC reporter state that retail is 2/3 of the American economy. Is there a group which tracks this over time? Where would I look for this type of statistic to get historical perspective.

[roseBudd]

1. Consumer spending is 70% of GDP, that is retail & services

So I think it is more accurate to refer to it as consumer spending

Which is why declining incomes for the 99% and lost housing & retirement equity has prevented pent up consumer demand and housing from fueling the recovery.

[libinnyandia]

2. A lot of DUers hate the term "consumer".

[roseBudd]

3. we can not afford to be economically illiterate, like the goTEAs

the economy has an aggregate demand problem