Explained in plain English
What is consumer spending?
Consumer spending is simply how much money people and households spend on goods and services. When people spend less, like delaying phone upgrades due to higher prices as mentioned in the story, it can slow down economic growth. Conversely, strong demand for premium iPhones shows some consumers are still spending.
Stories that explain this
iPhone sales rise as global smartphone market hits 13-year lowQuestions this opens up
Why do prices rise? What is inflation? How do interest rates work?This explainer came from a news story
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