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The wealthy are spending more and everyone else is not, says Zeta Global CEO David Steinberg
CNBC Television· 2025-10-01 19:39
Joining us now is David Steinberg. He's the CEO of Zeta Global. David, we're gonna maybe brand this as David Zeta data.What do you think. >> I don't know. My my wife and kids might like it, but the uh you know, as you've said, in the current environment, getting access to data is getting harder.And what we're seeing is more and more people looking at private indicacies like the Zeta Economic Index. Yeah, because with you know and now there's all this also it's not just that government data may not happen Da ...
The wealthy are spending more and everyone else is not, says Zeta Global CEO David Steinberg
Youtube· 2025-10-01 19:39
Core Insights - The current economic environment shows a disparity in spending habits, with wealthier individuals increasing their spending while others are reducing discretionary expenses [3][7] - There is a notable decline in consumer interest in credit, with a 22% drop from July to August, impacting larger purchases for non-wealthy consumers [5][10] - Essential spending is on the rise, which is helping to maintain overall economic growth despite the drop in discretionary spending [6][7] Economic Indicators - The Zeta Economic Index decreased by four points from July to August, indicating a potential slowdown, but GDP is still expected to grow at or above 2% for the remainder of the year [6][7] - Essential items are being purchased at a greater rate, offsetting declines in discretionary spending and contributing to GDP growth [7][11] - Labor Day sales are anticipated to provide a boost in retail activity for September [8] Consumer Behavior - There is an increasing aversion to risk among consumers, which is reflected in their spending patterns [3][4][11] - The automotive sector has seen a decline in spending, with a noted drop of four points [4] - Consumers are still willing to spend on essential items, which is crucial for maintaining economic stability [10][11]