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Is US consumer spending losing momentum?
US consumer spending is showing signs of slowing. But that’s more of a return to normal than an indication that a downturn is looming, according to Goldman Sachs Research. Some recent consumption data has appeared soft. Real personal consumption expenditure rose 2.6% in April from the same month a year ago, compared with a pace above 3% last year. Nominal retail sales increased by just 0.1% in May, while spending in prior months was revised down. Even so, Joseph Briggs, who jointly leads the Global Economics team in Goldman Sachs Research, says the US consumer remains healthy. In part, that’s because of ... (full story)
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- Posted: Jul 10, 2024 1:41pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 2,908
