Inflation, the Dollar, Commodity Prices: What Do They Indicate? Consumer spending is critical to headline growth in the US In the United States (SPY)(IVV), household spending represents about 68% of the gross domestic product (or GDP). In comparison, household spending represents 34% of the GDP in China (FXI), 56% in Germany (EWG), 60% in India (EPI), and 52% in Russia (RSX). So consumer spending is critical to headline growth in the United States. On August 3, the Gallup consumer spending report couldn’t buffer the fall in the SPDR S&P 500 ETF (SPY). SPY fell to $209.79, and the Consumer... More