US consumer spending slowed sharply in H1 2025, Fitch said, as trade policy uncertainty, market volatility, and a cooling labour market curbed demand.
Growth fell to 0.5 per cent in Q1 and 1.4 per cent in Q2, versus 3.7 per cent in Q3 and 4 per cent in Q4 2024.
Fitch sees 1.8 per cent growth in FY26, down from 2.8 per cent in 2024, warning tariffs could fuel stagflation and dampen holiday spending.
Growth fell to 0.5 per cent in Q1 and 1.4 per cent in Q2, versus 3.7 per cent in Q3 and 4 per cent in Q4 2024.
Fitch sees 1.8 per cent growth in FY26, down from 2.8 per cent in 2024, warning tariffs could fuel stagflation and dampen holiday spending.
