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U.S. consumer spending in the time of strong economic indicators
We are in the midst of interesting times with regards to important trends in the United States economy:
- The economy grew more than 4 percent during the second quarter of 2018. We see that trend continuing with more than 3 percent growth during the second half of this year, before slowing in 2019.
- The Consumer Confidence Index® remains near 18-year highs. However, there is moderation in consumers’ long-term expectations of economic growth.
- The job market is going strong. The unemployment rate will continue to drop through 2019.
- Wage growth is higher for blue-collar workers than for white-collar workers.
- Risk of near-term trade conflict with the European Union has eased, but the China debate is still hot.
The big question is: how are US consumers responding with their spending decisions in the near term and what does the future hold?
We look into these recent trends in our latest blog.