Fitch is saying that consumer spending from savings will likely end by Q4 2023
- They cite tighter lending standards driven by regional banks' stress is expected to contribute to the slowdown.
- Say that real income growth, excluding nominal wage gains, remain relatively weak as well.
Meanwhile, AAA is projecting a 7% increase in travel volume for the Memorial Day holiday compared to last year. This is expected to be the 3rd busiest Memorial Day weekend since 2000. They say that this summer's travel season "could be one for the record books, especially at airports"
Airline passengers are expected to make up 8% of travelers this Memorial Day weekend. That translates to 3.4 million flyers which is about 11% more than last year's Memorial Day weekend and about 36% more than any typical weekend. This despite the rising cost of airline tickets.
Will demand continue after the summer?
