The American shopping spree is losing steam
It’s becoming tougher and tougher for Americans to carry on with their spending spree.
Years of elevated inflation and the highest interest rates in almost a quarter century are wearing out the US consumer. Savings accumulated during the Covid-19 pandemic are drying up, borrowers continue to rack up debt and delinquencies are marching higher. Retailers say shoppers are fed up with rising prices and are changing their purchasing behavior.
Americans power economic growth with their spending, and