Shoppers wait to enter the Macy’s department store in New York on Thanksgiving Day, November 28. Photo: AFP
Nicholas Spiro
Opinion

Opinion

Macroscope by Nicholas Spiro

Why American consumers will remain a bright spot in the troubled global economy

  • US factory output is shrinking, but the economy is holding up because of robust private consumption
  • One reason why Trump hasn’t backed down in the trade war may be that key battleground states in the presidential election have enjoyed the strongest growth in personal income

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Shoppers wait to enter the Macy’s department store in New York on Thanksgiving Day, November 28. Photo: AFP
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Nicholas Spiro

Nicholas Spiro

Nicholas Spiro is a partner at Lauressa Advisory, a specialist London-based real estate and macroeconomic advisory firm. He is an expert on advanced and emerging economies and a regular commentator on financial and macro-political developments.