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The US Consumer & the economy

The US consumer is being push into a dificult situation. During the pandemic, the US government send checks to help reactivating the sudden stop caused by lockdowns. Consumer pockets were the fullest they’ve been since records began. During 2022, those cash reserves were severely depleted, partly due to inflation, to a point where saving rates have gone from historical max to 70 year lows on the span of 2 years. This is incredibly important for an economy where consumer spending accounts for 66% of #gdp. On top of that the tech sector keeps announcing layoffs, which may not be signinficant to the overall employment for the moment, but may be the canary in the coal mine, telling us that something is not right. Unemployment and gdp coming shortly to confirm or deny that trend.

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