+852-2978-1802 | andrew.tilton@gs.com Goldman Sachs (Asia) L.L.C. Hui Shan +852-2978-6634 | hui.shan@gs.com Goldman Sachs (Asia) L.L.C. Lisheng Wang +852-3966-4004 | lisheng.wang@gs.com Goldman Sachs (Asia) L.L.C. Xinquan Chen +852-2978-2418 | xinquan.chen@gs.com Goldman Sachs (Asia) L.L.C. 21 July 2025 | 7:45AM HKT China: Consumer Dashboard 2025Q2: Household income growth slowed amid increased US tariffs (Yang) Andrew Tilton Yuting Yang +852-2978-7283 | yuting.y.yang@gs.com Goldman Sachs (Asia) L.L.C. Chel ...

See the most recently available median household income figures for all 50 states plus Washington, D.C., and Puerto Rico, as well as the U.S. average. https://t.co/dZlEWN8esY ...

Consumer Spending Trends - Bank of America Institute data indicates a 2% increase in debit and credit card spending in June [1] - While consumer spending rebounded in June, it didn't fully offset earlier declines, suggesting a cooling trend [2] - Lower-income households are primarily driving the pullback in spending, while higher-income household spending accelerated by 1.2% [5] - Discretionary travel spending is declining, but restaurant spending shows a dichotomy, with fewer households dining out but spending more per transaction [6][7] Income and Wage Growth - Higher-income households experienced accelerated after-tax wage growth, nearing 3%, for the third consecutive month [9] - Lower-income households saw decelerated after-tax wage growth, increasing by 1.6% compared to 1.8% previously [10] Credit Card Usage - Younger generations entering a challenging labor market are a focal point regarding credit card usage [11]

American households that make about $250,000 or more are typically considered to be in the top 10% of earners. But these families don’t feel rich. https://t.co/4WDflc52Jn ...

American households that make about $250,000 or more are typically considered to be in the top 10% of earners. But these families don’t feel rich. https://t.co/iRtvFHmxwr ...

American households that make about $250,000 or more are typically considered to be in the top 10% of earners. But these families don’t feel rich. https://t.co/yszDB1AVIc https://t.co/Z3I498fGjk ...

That is the good news is that we were on a downward trend but uh the estimates that I've seen uh the impact of tariffs and of course there remains a huge um degree of uncertainty about exactly what is going to go into effect what will uh the court international trade court decision mean um I would expect inflation on a year-over-year basis uh this year to shoot up to at least 3% or slightly over because of the tariffs. So, um I definitely expect that we're going to see them impact pricing. And when you thin ...