Mar
19

Energy Expenditures

gaspumpsWith the recent sharp decline in energy prices, the percentage of household spending devoted to energy in Q4/14 was 4.9%, its lowest level since Q1/09. The last time it was below 5% for an entire year was 2003. The lowest quarterly percentage this century was 3.97% in Q1/02, while the highest was 6.59% in Q3/08. The highest on record was 9.27% in Q2/81 during the second OPEC oil shock.

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Comments

  1. Elliot,

    How long until the benefit of the lower oil prices are reflected in the broader economy? Will that lift be enough to offset the pull from the shrinking energy sector?

    Jason

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