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US consumers are done splurging, Fed report suggests
  + stars: | 2023-09-07 | by ( Bryan Mena | ) edition.cnn.com   time to read: +5 min
Washington, DC CNN —After a summer of robust consumer spending, America’s bars, hotels and restaurants say the era of post-pandemic splurging by US consumers has likely drawn to a close. “Consumer spending on tourism was stronger than expected, surging during what most contacts considered the last stage of pent-up demand for leisure travel from the pandemic era,” the report said. Consumer spending rose 0.8% in July, the strongest monthly spending gain since January. But that strength in leisure spending began to level off toward the end of August, the latest Beige Book shows. Still, leisure spending varied by region, with some reporting a noticeable slowing and others saying it is holding steady.
Persons: , Taylor Swift, Barbie, , Morgan Stanley, Goldman Sachs, Susan Collins Organizations: DC CNN, Federal Reserve, Warner Bros, Hospitality, , Street, Fed, Boston Locations: Washington, Boston Fed’s, Atlanta Fed’s, York, Boston
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