Slowing Down, But Not Out of Steam The latest economic figures suggest that while growth has slowed, American consumers continue to drive the economy forward. Growth decelerated to an annual rate of 1.
5% in the spring, but consumer spending remained steady, raising questions about the resilience of consumer driven growth. This trend contradicts traditional economic wisdom.
When growth slows, consumers typically cut back on discretionary spending and tighten their belts. However, Americans seem to be maintaining their shopping habits even as the economy slows.