Consumer spending holds strong
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 10 July 2026
⏱️ 9 minutes
🧾️ Download transcript
Summary
This morning, “Marketplace Morning Report” host Sabri Ben-Achour is joined by Gus Faucher, chief economist at The PNC Financial Services Group to take a look at how consumers responded to inflation during the second quarter of 2026, when the war in the Middle East was at its most disruptive. In short — they kept on spending. Plus, how changes with the United States-Mexico-Canada agreement could pose risks for the auto industry.
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Transcript
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| 0:00.0 | For decades, companies built their procurement and supply chains around cost and efficiency. |
| 0:05.7 | Today, that's no longer enough. |
| 0:08.1 | Wars, trade conflicts, and the regionalization of trade have changed the rules. |
| 0:13.2 | Companies still need to control costs, but they also need to reduce risk and respond faster to disruptions and shocks. |
| 0:20.6 | GEP helps the world's leading enterprises do exactly that. |
| 0:24.8 | Through its AI-native quantum intelligence platform and services, |
| 0:28.8 | GEP helps companies gain visibility, predict and manage risk, |
| 0:32.9 | and make smarter capital investments across their global value chain. |
| 0:36.6 | More than 7,000 employees across 30 offices support over 1,000 organizations worldwide. |
| 0:43.6 | GEP combines agentic AI with three decades of procurement and supply chain data and expertise. |
| 0:50.7 | Learn more at gEP.com. |
| 0:55.3 | Come hell or high gas prices, consumers keep on consuming from Marketplace. |
| 1:02.1 | I'm Sabri Benishore in for Kimberly Adams. |
| 1:04.0 | Reports are trickling in from various publicly traded companies about how they did in the second quarter, |
| 1:09.9 | right when the Iran war was at its most |
| 1:12.1 | disruptive. And this is happening just as the war has flared up a bit again. The latest reports are |
| 1:17.4 | that attacks between the U.S. and Iran have paused for now, but talks are ongoing. Gus Foshae is |
| 1:22.4 | here to talk about the economic outlook. He's chief economist at the PNC Financial Services Group. |
| 1:26.9 | Hi, Gus. Good morning. |
| 1:28.6 | Okay, so the global economy markets have had a few days to digest what is happening in the Strait of Hormuz. |
| 1:34.5 | Oil prices are up, but not as up as they were. What is the view on where we are at and the economics of where we are at? |
| 1:43.7 | We have an economy that is expanding solidly in mid-20206. |
... |
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