Americans have been splurging on movies and concerts all summer long — but investors don't expect the spending spree to last

Mon, 09/11/2023 - 23:40

Tech Insider

Economy

Economy

• The strong consumer spending propping up the US economy may not last, a Bloomberg survey found.
• Over half of the respondents said they think US personal consumption will shrink in early 2024.
• High interest rates and a drawdown of pandemic-era savings could hit consumer spending.

The US consumer has been holding up the country's economy, but the summer of 2023 may mark their last post-COVID-19 hurrah, a new survey indicates.

Tags

economy, Markets, united-states, economy, Consumption, News, Recession, global-recession

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Americans have been splurging on movies and concerts all summer long — but inve…