3 ms·

Thats the data though. Consumer spending is at all time high.I don't know where they are getting the money.

• coldtea 3y ago
  Is it inflation adjusted? And even more, purchasing power across a wide range not included in inflation calculations adjusted? Because consumer spending can be at an "all time high" for things that could have been bought much cheaper 5 and 10 years ago, including basics.
  • signatoremo 3y ago
    Of course it’s inflation adjusted. The term is “real consumer spending”. The data reported is not to make the public feel good, but to inform the policies. Politicians can always find a way to spin any number in their favor for sure. The spending has consistently remained high throughout the elevated inflation period, but is projected to go down a little bit. https://www.bankofthewest.com/Wealth-Management/insights/articles/economic-report/a-strong-start-to-consumer-spending-in-2023 https://www.bankofthewest.com/Wealth-Management/insights/art...
• joshspankit 3y ago
  My uneducated guess is that they are using credit and “now that the pandemic is over we finally feel like we can live again!”
• pcthrowaway 3y ago
  Groceries have increased in price by 50% in the last year. That "extra spending" is coming from money that might go to savings otherwise