Consumer Spending
Listen Now: Consumer Spending
Consumer spending is usually a good indicator of the health of our economy, unless consumer spending is split. I’m brian banmiller on business.
A number of company’s reported earnings this week from the tech industry to fast-food chains. These numbers are usually something investors watch in order to spot a coming recession, but this time the results are mixed. According to Walmart, customers are buying food and other essentials while skipping past aisles filled with clothes and sporting goods. Experts say this indicates some shoppers are becoming more focused on the staples element of shopping as opposed to impulse buys or things they don’t need to survive. McDonalds reports a similar picture with customers straying a bit from large size combo meals and opting instead for items off the value meal. But sales are still up. On the opposite side of the spectrum, Visa reported people still using credit cards especially when it comes to booking travel and vacations. The luxury group Louis Vuitton also reported a climb which is helping offset the slump it saw during covid lockdowns in China. The future really is hard to predict. Brian Banmiller, CBS News.
About Brian
CBS News Radio national business journalist Brian Banmiller has spent more than 40 years in the news industry, covering business, politics and the economy on television, radio and in print. Currently, his “Banmiller on Business” reports are delivered to an audience of millions nationwide.
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"The Technology Tornado: Media & Communications in the Modern Era"
See highlights from Brian's recent Ernst & Young "Continuing Education Conference" speech and hear directly from conference attendees.
Phoenix Convention Center
August 28th, 2019
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