(Redirected from ECPR) The European Consortium for Political Research (ECPR) is an independent scholarly association that supports and encourages the training, research and cross-national cooperation of many thousands of academics and graduate students specialising in political science and all its sub-disciplines.
Consumption, in economics, the use of goods and services by households. Consumption is distinct from consumption expenditure, which is the purchase of goods and services for use by households.
Categories of Consumption. Expenditures on consumer goods consistently account for over 68% of U.S. GDP, coming out to more than $12 trillion in purchases in 2015. Consumer goods are broken up into the broad categories of nondurable goods, durable goods and services. Personal consumption is distinct from private domestic investment, which is expenditure on capital, including tools, factories, machinery and residential structures, used to produce consumer goods. In the first quarter of 2016, expenditure on durables accounted for 7.3% of U.S. GDP. One of the main drivers of growth in this sector is transportation, such as motor vehicles and commercial jets. Orders for durable goods rose 3.4% in April 2016, 85% of which was new orders for commercial jets.