That’s important, because Americans’ spending on goods and services accounts for two-thirds of US gross domestic product.
Historically, sluggish retail sales, credit card delinquency and even shoplifting have been signs of a dark cloud on the horizon.
The question of credit card debt is another area where the nuance matters.
And as a share of total credit card debt, it is relatively low.
But Americans’ credit card debt is unquestionably rising.
Persons:
CNN Business ’, New York CNN —, Macy’s, they’ve, Taylor Swift, Barbie, ”, Ubers, Covid, Taylor, Sarah Yenesel, Chris Rupkey, Leticia Miranda, That’s, TJ Maxx, Louis Navellier, they’re, Brett Ryan, —, Alicia Wallace, you’ll
Organizations:
CNN Business, New York CNN, Dick’s Sporting Goods, Nike, FwdBonds, Atlanta Federal Reserve, “, “ Retailers, Deutsche Bank, Walmart, Amazon, Federal Reserve, Bank of America
Locations:
New York