The services sector growth has decelerated, with concerns over tariffs causing ripple effects across numerous industries. Analysts highlight that while software services avoid tariffs, apprehensions about recession and global growth still hinder business optimism. In digital advertising, a 10-15% demand reduction could significantly impact major players like Meta and Google. Food service remains somewhat resilient due to ingredient substitutability, but travel could be severely affected as tariffs may deter international travelers and eat into discretionary spending on domestic travel, indicating a gloomy outlook for the hospitality industry.
If you cannibalize 10 to 15% of demand, that could cut digital advertising for Meta, Google and other players in social media.
You can make swaps on your cheeses or your lettuce, you might be able to soften the blow a little bit.
We've already seen some of that close to the Canadian border, where room demand has actually declined.
Tariffs could raise the cost of must-have items, like food and fuel, that then eats into people's discretionary spending.
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