Consumer spending is showing early signs of slowing in the second quarter of the year. However, Goldman Sachs Research economists continue to forecast above-consensus real spending growth of 2.6% in 2024 in Q4/Q4 terms. Personal income continued to rise in April in line with consensus. As for wealth, household balance sheets have strengthened due to asset price increases, especially for older households, which could provide a positive impulse to spending growth in 2024. GOLDMAN SACHS