Taylor Swift, Beyonce, Barbie, Oppenheimer
Consumer spending may not be out of the woods.
Real spending is expected to come in 1.9% higher in the third quarter, helped in part by stadium tours from music superstars Taylor Swift and Beyoncé, as well as summer movie blockbusters “Barbie” and “Oppenheimer,” according to Morgan Stanley. But the economic halo may be short lived, the firm warned on Wednesday.
Taken together, Morgan Stanley economist Sarah Wolfe said the “unprecedented” revenues tied to these events should add a seventh of one percentage point to consumption growth in the quarter. They fall under the movie consumption and non-sports live entertainment portions of the…