Report
US consumers have almost emptied their magic potion vial
Real consumer spending strengthened at the start of the summer in the US, giving the impression that the economy was on the verge of accelerating again. We would have expected rather that the tightening of credit would weigh on household demand. Indeed, this is the reason why the Fed has tightened monetary policy so sharply. Consumer resilience does not appear to be sustainable as it stands. The excess savings accumulated during the lockdown period will be used up by early 2024....
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Oddo BHF
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
Bruno Cavalier
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