TD predicts significant consumer spending slowdown after Q2
Preliminary estimates for January suggest consumers continued spending in the new year
Mortgage debt growth slowed in 2022, credit card debt accelerated
Better than expected, new auto sales still increasing
Data from the bank's customers suggest strong Q4 retail sales
Auto, gas, department store sales down
Figures for November indicated weaker spending on goods despite Black Friday sales
Many Americans are digging into their savings to maintain the same level of spending
Gasoline down 2.4%, convenience store sales drop 1.5%
Credit card balances up 15%, grocery spending down