Spending among Americans is holding up despite the volatility of the Iran war — at least according to two giant US consumer brands.
Disney said demand at its parks and resorts is healthy, while Uber’s CEO said spending on rides and delivery orders remains “really strong… we don’t see any signs of that weakening at this point.”
The results suggest rising gasoline prices in the US haven’t yet dampened demand among households.
However, the US Commerce Department’s advance estimate of first-quarter GDP projected that consumer spending was slowing, and a new Federal Reserve Bank of New York report noted that lower-income Americans are cutting back on gas purchases.
Travelers are increasingly looking for alternative destinations as airfares soar, Bloomberg reported.
