US Consumer Spending Surges, Boosting Economic Outlook
US consumer spending surged 0.4% in September, fueling economic growth. Retail sales rose across most sectors, signaling resilience despite inflation and high rates.
Big U.S. banks see loan growth slowing as outlook for demand, economy darkens
U.S. bank executives said they’re optimistic on loan growth as demand for borrowing from retail and business customers bounced back in the second quarter from the lows of the pandemic, but warned demand could weaken later this year if the worsening economic outlook starts to hurt consumer confidence.
