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Are consumers pulling back on spending? It depends which CEO you ask

Posted on AllSides May 20th, 2024
From The Center
Economy and Jobs, Consumers, Spending, Retail Sales
Jeenah Moon | The Washington Post | Getty Images

With higher prices and elevated interest rates stubbornly sticking around, Chipotle burrito bowls and European vacations are still on the table for many consumers. But Big Macs and kitchen remodels aren’t.

The most recent round of quarterly earnings reports helped to sort companies into largely two camps: McDonald’s, Starbucks and Home Depot were among the consumer-centric companies that surprised investors with weaker-than-expected results, saying customers had pulled back their spending. Others, like Sweetgreen and Delta Air Lines, bucked the trend and reported growth.

The takeaway? Consumers have become more selective about how and where they spend their dollars.

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