US Metros Outlook | Spending profiles will continue to evolve across US metros

US consumer fundamentals remain strong despite some near-term headwinds, and we expect private consumption to be a key driver of growth over the remainder of the decade. Underlying this will be a transition in the mix of spending from consumer durables and essential goods towards discretionary items and in-person services. And the outlook for spending will vary between metros, both in the pace of growth, and what consumers spend their money on.

What you will learn:

Hospitality will benefit from pent-up demand, and as people spend less of their household budget on food at home, and more on dining out.
The outlook for aggregate consumer spending varies significantly between metros, reflecting the strength of their labor markets and population growth.
The profile of spending will also vary by locale.

Topics: United States, Cities, Forecasts, Economic outlook, Consumer spending, Labour markets, Coronavirus, Growth & secular trends, Metro Economic Outlook, US economy, North America, Consumer, Employment, Recovery, Metros, Growth, Outlook