Also companies are realizing that when people are broke they stop buying luxury stuff and only buy essentials.
Last time I heard, broad consumer spending decreased but luxury spending is going strong. Increased luxury good demands along with AI bubble is what keeps the US economy out of full blown recession thus far. And as we know, those bubble might pop.
Last time I heard, broad consumer spending decreased but luxury spending is going strong. Increased luxury good demands along with AI bubble is what keeps the US economy out of full blown recession thus far. And as we know, those bubble might pop.
Yeah but that’s changing fast with tariffs.
Hard to say for sure until we get more recent data.