Consumers are quickly changing their spending habits as the pullback across the leisure and travel industry becomes more pronounced. We first asked this question in early May, “Is Consumer Travel Spending Easing?” – BofA Identifies New Trend As Travel Companies Miss Earnings.
With the Biden-Harris economy losing steam, recession risks are mounting as the labor market cools. Airlines, hotels, short-term rental platforms, and even theme parks are sounding the alarm bells about a consumer downturn.
Evidence of a consumer slowdown is widespread.
Goldman’s Peter Callahan commented on this in a note to clients on Sunday, “Travel trends clearly deteriorating into July/2H (EXPE / ABNB 2H moderation, DIS Parks/Experiences saw a moderation of consumer demand, FOUR calling out restaurant weakness in July) – debate is if they are now ‘de-risked’ into 2H or if the market will need to wait to see if we go ‘below’ trend before normalizing (as many other categories impacted by COVID have done – e.g. e-commerce) ..”
Thanks to obiden and you supporters out there. You know who you are. You should have known republicans would not be the only ones effected by this corrupt regime. The change in wealth will take a toll on all working people.