USMC - Global Consumer Spending Shows Resilience In Second Quarter

2024-07-20 03:20:00 ET

Summary

• Global consumer spending growth remained resilient in the second quarter, according to PMI survey data from S&P Global Market Intelligence, fueled by rising demand for both goods and services.
• The overall expansion in the second quarter nonetheless matched that seen in the first quarter, which had in turn signaled a recovery from a mild contraction seen in the fourth quarter of last year.
• In terms of consumer services, global orders have been led by Asian markets in recent months, with new orders for consumer services even falling into marginal decline in Europe during June for the first time since last November.

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