The Importance of Services in the Economy

The interest rate sensitive sectors have been doing bad, manufacturing and real estate. And on the other side, services spending has been on fire. Part of the reason is there a propensity to save in this economy if housing affordability is so far out for most younger folks? So what they're doing is Americans aren't saving as much as they were free pandemic. This is airfares, restaurants, drinking parlors, amusement parks. They're having a good time.