Strength or Softness?

Strength or Softness?

Shan Ahmed Tani Fukui Drew T. Matus
JUN 17, 2024

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The Case for a U.S. Productivity Boom

Consumers have still not run out of runway. Despite having burned through the famous “excess savings” from pandemic-era stimulus, and despite a softer labor market, we continue to see consumers willing and able to spend. As we elaborate below, continued credit availability, investment spending and the labor market provide enough space for households to maintain their spending habits for the next several months.