Consumer Spending May 2024. Kenanga research projects a 6.2% growth in private consumption in 2024, versus an estimated 4.8% in 2023. Consumer spending on services to rise 3.1% in 2023.
Annualized, it comes out to a 2.5% increase in 2023 vs. Insights into economic uncertainty and looming spending changes.
Some Economists Are Forecasting A Soft Landing In 2024, While Others See A Goldilocks Economy.
Higher consumer spending reflects not only higher government spending in response to the pandemic but.
The Increase In Outbound Travel Could Be Partly Offset By Increased.
The stronger than expected growth was driven mostly by consumer spending and.
Through The Year, Household Spending Increased For Both.
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The Percentage Of Us Respondents Concerned About Rising.
Insights into economic uncertainty and looming spending changes.
After Inflation Adjustment The Gain Was Still 3.2%.
Given these headwinds and tailwinds, we expect overall consumer spending growth to slow to 1.9%.
Analysts Point To Consumer Spending Expectations As A Driver To.
