This doesn’t bode well for consumption next year….

September 26, 2023 9:24 am by CWR

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The rich plan to continue spending on travel and luxury, while the middle classes seem increasingly reluctant. This doesn't bode well for consumption next year.t.co/IywHj5UVtZ via @economics

— Michael Pettis (@michaelxpettis) September 26, 2023

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