Consumer Checkpoint

Consumer spending had a summer bounce in July, with lower- and middle-income households looking particularly resilient.

Overall consumer spending remains stable, but higher housing costs are impacting spending by renters more than homeowners.

While consumer spending has stabilized, rising housing costs and pending student loan payments are pressuring younger consumers.

While the overall labor market remains buoyant, higher-income households are seeing some pockets of weakness.

While spending was no slam dunk due to weaker wage growth and lower tax refunds, consumers continue to have financial buffers.

Consumer spending growth decelerated in February, but continues to be supported by positive fundamentals.

Consumer spending strengthened in January supported by stronger labor income, but the less affluent still face more challenges.

After a solid year, the consumer may feel the weight of 2023, but for now they are heading to the gym in OK financial shape.

Consumers have proven resilient in 2022. While spending is slowing, they are starting 2023 in good financial shape.

Pent-up demand for cars may help offset weaker discretionary spending, but the current road into the holidays looks bumpy.

Our data confirms the U.S. housing market is slowing, which may be a drag on discretionary spending, especially for renters.