Goldman Sachs: The US Consumer Remains Strong Amid Overblown Recession Fears

Monday, 19 August 2024, 09:38

The US consumer is strong and fears of a recession are 'overblown', according to Goldman Sachs. Solid second-quarter earnings and strong retail sales in July bolster confidence in economic stability.
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Goldman Sachs: The US Consumer Remains Strong Amid Overblown Recession Fears

Goldman Sachs Confident in US Consumer Strength

Goldman Sachs has recently stated that the US consumer is strong and concerns about a recession are overblown. The firm's Chief Economist, Jan Hatzius, noted that solid earnings results from the second quarter have reinforced positive sentiment about the economy. In addition, robust retail sales data for July has provided further support for his optimistic view.

Key Indicators of Economic Stability

  • Solid Second-Quarter Earnings: Many companies reported better-than-expected earnings, indicating resilience in consumer spending.
  • Strong July Retail Sales: Data showed significant growth in consumer purchases, further alleviating recession worries.

According to Hatzius, these indicators suggest that the overall economic context is far less dire than some analysts fear, providing a clear signal of strength in the US economy.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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