Below is a chart and brief excerpt from today's Early Look written by Director of Research Daryl Jones.

One area where we are clearly seeing slowing is spending on luxury goods. The chart below shows July Luxury Goods Spending down -8.3% Y/Y in July and now on the 10th straight of negative Y/Y spending. Likely not the best time to sell that yacht you bought during the pandemic!

CHART OF THE DAY: 10 Straight Months of Negative Luxury Goods Spending - Picture1