Markets 360

H2 consumer outlook: Savings-slasher, Christmas-crasher

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Carl Riccadonna, Chief Economist, US

Andrew Schneider, Senior Economist, US 

Yelena Shulyatyeva, Senior Economist, US

Andrew Husby, Senior Economist, US 



BNP Paribas | Global Markets (Recorded 03 August 2023) 


  • We expect household excess savings – which has bolstered consumer spending over the last eighteen months – be depleted by the end of this year.
  • Watch for more price elastic consumer spending as households become increasingly dependent on paycheck income.



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    Markets 360By BNP Paribas Global Markets