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- Consumer spending held up the US economy even as many worried about the prospect of a recession.
- A recent investor survey found most respondents predicted personal consumption would shrink.
- There are signs the blissful season of "Barbie" and Taylor Swift is about to end.
A perfect storm is coming for the US economy.
Even as interest rates skyrocketed over the past 18 months, strong consumer spending kept the US economy moving. It's what helped fuel a summer of "Barbie," Beyoncé, and Taylor Swift.