Fitch Ratings expects 2024 U.S. retail volumes to decline at a low single-digit rate, particularly in discretionary categories, amid a backdrop of moderating consumer health and sentiment. Spending headwinds include reduced savings, rising debt levels, climbing interest rates and the cumulative impact of recent inflation. These factors are somewhat offset by historically low unemployment and some easing of inflation in recent months. Consumer spending’s direction is increasingly challenging to predict, given an unusual environment beginning in 2020 that initially supported strong spending on consumer goods, ... (full story)