US Consumer Spending Outlook, 2024

January 30th, 2024

Jitender Miglani Principal Forecast Analyst

Dipanjan Chatterjee VP, Principal Analyst

With contributors:

Fiona Swerdlow , Melissa Bongarzone , Shynise McElveen

Summary

The US economy defied recession forecasts in 2023 and continued to grow. Looking ahead to 2024, however, we expect the US economy to experience a slowdown. We do not expect US consumer spending, a key engine of the US economy, to contract, but it will grow at a slightly slower pace compared to the pre-pandemic average. This report provides Forrester’s outlook on the US economy and US consumer spending in 2024. It also discusses what it means for B2C marketers and brand manufacturers.

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