Americans are having fewer babies and it’s seriously cramping our style, economically speaking:
The population increased by 0.92 percent, or 2.8 million people, to 311.6 million from the end of the decennial population count on April 1, 2010, to July 1, 2011, the slowest rate over a similar period since the mid-1940s, the Census Bureau said.
The number of births fell to 3.96 million in 2011, and it may fall again this year to 3.94 million, forecaster Demographic Intelligence predicted in July. “A culture of risk aversion among young adults” is behind the drop, the Charlottesville, Virginia-based firm said.
“Population is a very strong motivation for consumer spending,” said Chris Christopher, director of U.S. and global consumer economics research at IHS Global Insight in Lexington, Massachusetts. “Weak population growth due to fewer children will play itself out in years to come.”
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