, Columnist
Turn Out the Lights, the Consumer Party’s Over?
Confidence remains resilient, but a dip in retail spending and new evidence that post-Covid savings are running down may flick the switch.
Enjoy it while it lasts.
Photographer: Paula Bronstein/Getty
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Time and again, one theme prevails for explaining the strength of the US economy: American consumers. Blame it on the multiple rounds of stimulus checks the government circulated in 2020 and 2021 that spurred shopping sprees and or pent-up savings. For a while, consumers were revenge spending — particularly on leisure, services and travel — after years of being confined within the four corners of their homes.