H2 consumer outlook: Savings-slasher, Christmas-crasher
Update: 2023-08-04
Description
Carl Riccadonna, Chief Economist, US
Andrew Schneider, Senior Economist, US
Yelena Shulyatyeva, Senior Economist, US
Andrew Husby, Senior Economist, US
BNP Paribas | Global Markets (Recorded 03 August 2023)
- We expect household excess savings – which has bolstered consumer spending over the last eighteen months – be depleted by the end of this year.
- Watch for more price elastic consumer spending as households become increasingly dependent on paycheck income.
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