GBUY - Can The Consumer Continue To Drive U.S. Growth?

2024-06-07 14:35:00 ET

Summary

• US economic activity has continued to expand at a modest pace in 2024, as the consumer has proven resilient in the face of high interest rates and elevated inflation.
• Job gains above pre-pandemic averages and nominal wage growth above inflation have supported personal consumption, specifically within the services sector.
• On the macro side, heightened price sensitivity and lower bargaining power have led to weaker discretionary spending, especially among lower-income cohorts.

By Lindsey Cwik

Cracks are forming in the U.S. consumer story, but it remains to be seen if they will result in widespread fragility. ...

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