Consumer Spending Declined In July. Goldman Sachs Expects It To Fall Further.

Goldman Sachs warns a consumer slowdown could soon hit the US economy as tax refunds dry up

Peter Kneffel/picture alliance via Getty ImagesAmericans look like they're about to tighten their wallets in the second half of 2026, Goldman Sachs says.The bank estimates that real consumer spending growth could fall to as low as 1% during the six-month period.Economists pointed to the fading effects of tax refunds and ongoing pressures from higher oil prices.Get ready for a consumer slowdown to hit the US economy, Goldman Sachs warns.The Wall …

Consumer Spending Declined In July. Goldman Sachs Expects It To Fall Further.

Goldman Sachs' Jan Hatzius said he and his team "expect sluggish consumer spending growth ahead."

Goldman Sachs Warns U.S. Consumer Spending Could Slow in Second Half

The U.S. consumer has shown remarkable resilience this year despite elevated gasoline and food prices, but that strength could weaken in the coming months.