consumption - using up of consumer goods and services for the satisfaction of the present needs of individuals, organizations, and governments, consumption = consumers' expenditure - amount of money spent by the whole of an economy on consumer goods and services. In most economies about 80% of national income is spent on consumption, the balance going to investment (which provides for future consumption). However, the distinction between consumption and investment is not always clear as some goods, e.g. consumer durables, provide for both present and future consumption