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Article: State report on 'mature' consumers cites impact of aging baby boomers. (New York State)
- Article from:
- Westchester County Business Journal
- Article date:
- July 23, 1990
CopyrightCOPYRIGHT 1990 Westfair Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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State report on `mature' consumers cites impact of aging baby boomers
ALBANY (UPI) -- As New Yorkers go gray, the economy is going to get greener, according to a state Senate report from the Senate Republican task force on aging.
The study says the nation will witness the greatest spending spree in history over the next three decades as today's baby boomers hit their peak earnings and then retire.
The report said households headed by 55- to 64-year-olds already spend 7 percent more than the average household and expects the trend to continue.
"Baby boomers have lived in an era of plenitude, an atmosphere different from the pennywise ...