One and a Third Percent
On August 30, the U.S. Commerce Department published detail on July’s gross domestic product. Including detail on its largest component, personal consumption expenditures. In July, one and a third percent of personal consumption was for residential electric bills.
Is that a lot or a little? One way to answer this question is to look at what other categories of personal consumption were near one and a third percent in July.
Exactly one and a third percent was also spent on higher education.