Consumer Spending And The Economy Grow Despite Persistent Pessimism

In Q3 2024, the US economy continues to grow, fueled by consumer spending. Both services and goods spending have grown in real terms, and inflation in services has boosted nominal expenditure in that category. Macroeconomic indicators are strong, and the economy continues to avert a slowdown. Yet despite the abundance of good news, consumer sentiment is at a record low, driven primarily by a widening gap in confidence between more affluent and less affluent consumers. This report helps marketers and strategists disentangle the complex economic environment to craft a growth strategy that addresses pricing, affordability, and value.