Part 5/11:
The latest data notes that the GDP grew by 2.9% in 2023, followed by a 2.8% increase in 2024. These figures suggest economic growth, albeit at a slower pace than anticipated. Inflation and rising costs directly impact consumer spending habits, leading people to allocate their resources differently. As essential products grow costlier—the prices of eggs or car insurance, for instance—discretionary spending diminishes, raising fears about a potential recession.