2012-08-21 — sfgate.com
"Consumption bumps up when families have children," said Dean Maki, chief U.S. economist at Barclays Plc in New York, who worked at the Federal Reserve from 1995 to 2000, and researched household finances. "The fact we are seeing fewer births is something of a drag on consumer spending. To the extent this turns out to be a persistent trend, it is something to be worried about."
...
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.
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