The resilience of private consumption in the US, the key to the growth gap, is not surprising, given that American households have reduced their debt burden considerably from the peak of more than 90% of GDP reached just before the crisis. The lower debt burden is also a key reason why consumption is expected to continue to grow much faster in the US than in the eurozone this year and next.
增长差距的关键因素——美国私人消费的高恢复力——并不令人奇怪，因为美国家庭大幅削减了债务负担（危机前，美国家庭负担占GDP比达到了90%以上）。债务负担的减轻也是消费有望继续成为推动今年和明年美国增长远快于欧元区的关键因素。