00:00It's Benzinga, bringing Wall Street to Main Street.
00:02U.S. consumers are continuing to spend at a healthy pace, even as inflation,
00:06economic uncertainty, and weak consumer sentiment weigh on their outlook,
00:10according to the Wall Street Journal. Americans continue to spend across a wide
00:14range of goods and services, even as inflation and pessimism about the economy persist.
00:19Household spending accelerated through August, helping drive stronger second-quarter economic
00:23growth alongside business investment. Inflation accounts for part of the increase,
00:27but inflation-adjusted spending has also continued to grow.
00:30Since the pandemic, consumer sentiment has increasingly diverged from spending,
00:34with Americans continuing to spend even as economic confidence remains near historic lows.
00:39A stable labor market and rising household wealth have helped support consumption,
00:43although the benefits have not been evenly felt. Economists warn that spending could
00:48eventually slow as savings decline and consumers take on more debt.
00:52For all things money, visit Benzinga.com.
