Consumer Checkpoint

Consumer spending rebounded in June, but services spending fell for the third consecutive month. 

While their wage growth remains positive, younger generations’ spending has decelerated and their use of buy now, pay later is up.

Consumers continue to show moderate spending momentum, with most being in good financial health.

Consumers continued spending in March, but tariffs, slowing wage growth and inflation may pose headwinds.

Consumers show forward momentum, but at a measured pace as they balance grocery prices, policy changes and easing wage growth.

The financial health of consumers looks solid, though rising auto payments may be a risk if the economy deteriorates.

Will rising confidence and solid wage growth mean consumers will kick off the new year with momentum?

Consumers’ resilient momentum continued as the holiday season kicked off, but will it continue to pop in the new year?

Are consumers ready for the holidays?

Wage growth and home equity offer support to consumer spending, though there is less demand for higher-priced durable goods.

Strength in wages is supporting consumer spending and cushioning rising costs of auto loans. Plus, housing costs are easing.

Spending momentum has slowed and consumers are more price sensitive, but elevated deposits and positive wage growth offer support.

Services spending kept rising in June – both at home and abroad. Is rising financial wealth leading to firmer spending growth?

Gen Z and Millennial spending is boosted by labor market strength, but slowing discretionary spending could suggest pressure.

Consumer spending and wage momentum continues, especially for lower-income cohorts, but property insurance costs pose risks.

Spending softened in March, but continued wage growth, tax refunds, and easing rent inflation should support consumer momentum.

Consumer spending momentum is soft but stable, though there are signs lower-income households’ spending growth is slowing.

Higher-income households tend to return goods the most, and, generationally, Gen Z the least, except for electronics.

Total household debt is increasing, with mortgages and student loans in focus.

We find the 2025 FIFA Club World Cup boosted spending significantly in the areas where the games were played.