We expect this holiday shopping season to be the strongest in four years, but it will be disproportionately driven by older, wealthier households.
Emma Pollard
The surge in capital spending by U.S. technology providers is leading one of the largest investment cycles of the past half-century. Technology and other services sectors, such as in finance, transportation, and health care, are racing to upgrade their electronics and computer systems, develop new products that support adoption of artificial intelligence, construct new data centers, and expand power supply.
Half-built Britain – unlocking the nation’s infrastructure growth plans has been written for the Construction Plant-hire Association. It investigates how the government’s plans translate into action on the ground through the lens of three major policy releases over the summer of 2025—the Comprehensive Spending Review, Industrial Strategy, and National Infrastructure Strategy.
A recent agreement to lower tariffs on Chinese imports by 10 percentage points has nudged the US effective tariff rate down to 13.4% from 14.6%. This supports our view that the tariff-related drag on US activity and inflation is nearing its peak for the year. While a possible Supreme Court ruling could reduce tariffs further, the likelihood of sustained relief remains limited given alternative legal avenues available to reimpose tariffs.
With stock markets sitting at or near all-time highs, there is renewed attention on the consumption effects from fluctuations in household wealth. Since the onset of the COVID-19 pandemic, significant gains in net wealth have driven almost a third of the increase in consumer spending. Despite an unfavorable backdrop, consumer spending will grow at a decent pace this year, largely thanks to the stock market rally that started in April.
Our analysis suggests that rising digital technology investment in the United States could significantly exceed consensus growth expectations for 2026.
Southern metros are set to see the greatest benefits from the reindustrialization agenda
Our survey of 1,000 senior leaders from the manufacturing, retail, and transportation and logistics sectors shows that improving workflows translates to a range of benefits, from financial gains to improved customer satisfaction and employee productivity.
Diverging fortunes across age and income groups reveal both resilience and fragility in the US consumer outlook.
Explore how shifting supply trends are shaping industrial, office, retail and residential real estate in 42 US metros. Download our infographic today.
In most US metros, a 1% GDP fall lowers capital returns on property by 1.4%-2%.
The near-term surge in inventory growth increases the risk of additional strain on space market fundamentals in certain metros.
Regions such as the South and West will bear the brunt of the drag on consumer spending.
This study, commissioned by General Mills, analyzes the company’s economic impact in the US, including its operations, supply chain, and employment.
Net immigration trends and labor market implications
Early insights into US tariffs and their impact on Canadian goods
Labor market conditions loosen, prompting an earlier Fed rate cut
Large primary deficits make for a concerning fiscal outlook
Important elections are on the horizon across Latin America, with the most consequential being in Bolivia and Argentina.
How High-Performing CISOs Leverage Crowdsourced Security
