Week of November 18, 2024
The winter holiday season is near, and that means Americans are gearing up to spend. A recent Gallup Poll suggests that Americans on average will spend over $1,000 on gifts this holiday season, a modest increase from last year. This bodes well for economic growth, as consumer spending makes up 67% of US GDP. This note doubles as a reminder to have any online shopping completed early, as sales from online retailers are forecasted to grow by nearly 10% from 2023. The remainder of this year will see the highest volume of packages shipped in history. There are no changes to our Signals.
Michael Mullenax, CFP® and Bob Bilkie, CFA
