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US: credit-fuelled consumption
In 2021, the consumer spending boom was fuelled by fiscal transfers received during the pandemic and by the recovery in job creations. Today, transfers have dried up and disposable income growth is back in line with its pre-Covid trend. Spending remains far more dynamic, boosted by price inflation. To date, households have not adjusted their volume of spending to the shock on their buying power but have compensated for it by drawing on their credit cards. Although their finances ...
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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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