What’s behind the unstoppable American consumer. Personal consumption expenditures rose 0.8% in March, the strongest in more than a year. “In large part, sustained strong growth in consumption seems to be the result of a higher number of people who are working and producing, earning and spending.”
https://www.axios.com/2024/04/26/american-consumer-spending-resilience-economy
by mafco
9 comments
Low unemployment. And wile wage growth is slow it’s concentrated in the bottom 25% of earners who spend all money. Like the CA $20 minimum wage is a big deal.
Lots of YOLO purchases post pandemic. Can’t say I blame them but if the bottom gets yanked out from under this economy, lots of people are gonna be up schitt creek.
You mean consumers taking out debt to still spend.
This economy is doing great. I don’t understand why people complain about it. It’s like they want Donald Trump to get elected again and remember how that turned out? A terrible economy, a pandemic that caused a recession. Trump was not a good president. Biden had turned things around, and as a result the economy is taking off and heading in the right direction. As long as Biden gets elected I see no reason why the economy would flat line. If Trump managed to get elected (he won’t he will be in jail for his crimes) Project 2025 will start and that will be the end of the this country as we know it. Voting won’t matter republicans will control this country forever. Raising taxes on the poor, lowering taxes on the rich, all while funding a war machine for more oil. Project 2025 will remove all our freedoms. Republicans will take away abortion rights, guns, freedom of speech it really is that dire.
Unscientific opinion: In case of high inflation what is the meaning of not spending everything??
Doom spending.
It’s cross border immigration.
Tax money shows up this time every year. Don’t get too excited.
US consumer is done. Leisure travel, a leading indicator of the consumer, is down 2% in March, the first negative reading since before Covid. Rate cuts this year are still happening. 75-100 bps starting this summer.