Mr. HEIRT NOELT (Belgian Asset Manager): Exports have been the main engine of growth in Europe, where as consumption and credit growth have been the main engine of economic growth in the United States.
On balance, considering effects on the economy, the main source must be the consumption tax.
Finally, this indirectly contributes to unemployed and underemployed people dropping consumption, and Main Street businesses lack of demand.
As regards human consumption, the main source of demand comes from urban communities requiring water for drinking, sanitation and drainage.
Cembalest points out three main risks: inflation, how consumption is financed, and structural impediments to growth.
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His crucial revenue-raising decision was to increase the main rate of VAT, a consumption tax, from 17.5% to 20% in January 2011.
The report, the Economic Survey of Latin America and the Caribbean, identified private consumption as "the main driver of regional growth, thanks to the growth in labour markets, increased credit and - in some cases - remittances".
The government said the main drivers for the fall were personal consumption expenditures, which fell 3.1%, the sharpest drop in 28 years.
The figures from the Civil Aviation Authority and the Department for Transport revealed that alcohol consumption and smoking were the main factors in nearly 63% of reported incidents, and 78% of cases involved male passengers.
When you add the costs of borrowing in aggergate to finance imports as a nation, transfer payments to the unemployed, consumption being curtailed, and main street businesses going out, those imported goods are costing us a fortune.
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Installing water meters at a hundred of the local authority's main buildings have reduced emissions linked to water consumption by 51% since 2007-08.
Recently, for example, I was in Nicaragua visiting a new client, a 700-member farmer cooperative that produces coffee for export and corn for domestic consumption The cooperative sells 300 tons of corn annually to its main buyer, the World Food Programme which is used to produce 6.7 million school lunches a year or one meal per day for 44, 000 children for an entire school year.
The demand for water originates from four main sources, namely, agriculture, production of energy, industrial uses and human consumption.
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And the main contributors to growth will be exports (mainly from the more prosperous coastal regions), consumption (primarily by urban residents) and investment (mainly in cities).
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