Consumer spending

The Rosenberg Research president explained his grim economic outlook in a new interview. These are the biggest takeaways.

Dollar General said it expects lower sales growth and an annual earnings decline as much as 34%, compared to a previous guidance of a 0%-8% drop.

"Credit card borrowing costs are the highest since records began in 1972 so there is going to be a lot of pain out there," ING Economics said.

The massive figure comes out to more than $334,000 of equity of each owner-occupied housing unit in the US.

There has been a rebound in car, furniture, appliance and luxury purchases, said Shehzad Qazi, managing director of China Beige Book.

Taylor Swift, Beyoncé, and the "Barbenheimer" movie phenomenon have given a sizable boost to consumer spending this year. Collectively, they may add an impressive $8.5 billion to the US economy in the third quarter, per Bloomberg.

The cult-favorite exercise bike company lost 29,000 subscribers and burned through an extra $40 million dealing with the recall of its bike seat.

Even with high prices and rising interest rates, US households are still spending a lot. They're just getting more selective about where they spend.

"Lower income cohorts are increasingly coming under pressure with fewer offsets and with little sign of relief from the high cost of capital."

"The short-term economic boost from Taylor Swift's 'Eras Tour' is ending as it moves overseas," Raymond James said about worrying economic signs.

Buffett's company can handle whatever the economy throws at it, thanks to its vast scale and scope and huge cash pile, Steven Check said.

The top economist highlighted "amazing resilience" in the US economy and doesn't think a recession will hit the US economy for the rest of 2023 and early 2024.

Buffett's company reported cooler demand for everything from homes and building materials to used cars and clothes last quarter.

Third Point's billionaire boss predicts AI will supercharge productivity and profits, and expects the Fed to step in when consumers run out of cash.

The veteran economist has been mocked and insulted, threatened with firing, and had objects thrown at him for predicting recessions in the past.

Consumers are cutting back on non-essentials, while companies are struggling with interest and wage costs, Macro Mavens' Stephanie Pomboy says.

The top 1% are even richer and spending more than ever. You can thank rising stock prices and YOLO spending culture for that.

YOLO spenders have already started to dial back on their bucket list purchases, data from the Fed's Beige Book shows.

A broad consumer-spending slowdown has weight on pool construction as the industry comes down from a post-COVID high.

The recession Wall Street predicted is hitting the economy sector by sector, Bank of America executive Keith Banks said.