юааcaliforniaюаб Canтащt Afford To Repeat The Great юааrecessionюаб State юааspendingюаб In the second quarter of 2024, us consumer optimism fell, mirroring levels seen at the end of 2023. economic pessimism grew slightly, fueled by concerns over inflation, the depletion of personal savings, and perceived weakness in the labor market. these concerns left consumers somewhat conflicted: on one hand, they continued to splurge on food. Borderline. (madonna, 1987) that said, most consumers across the four countries we researched believe that we are in a recession—and say that they are spending more and saving less. (see exhibit 3.) only 18% have seen their income increase in the past six months, and over half believe that they are financially worse off today than they were.
Consumer Spending Won T Stop Even As U S Economy Sputters But Big Aug. 7, 2024. the economy’s resurgence from the pandemic shock has had a singular driving force: the consumer. flush with savings and buoyed by a sizzling labor market, americans have spent. A recession could still dampen the local economy, the experts said. it could lead to a significant downward shift in the labor market, a slowdown in consumer spending and a rise in unemployment. We currently forecast that cooling consumer spending will push us gdp (gross domestic product) growth down to around 1% (annualized) in q3 of this year.” read: consumer sentiment holding steady. Investors should continue to monitor the labor market and other economic data in the coming months as tight monetary policy often has a lagging impact on growth. u.s. gdp growth slowed from 3.4%.
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