Monday, 27 July, 2026
AI Spending Holds Up the Economy as Consumer Credit Falters
By TechShots Studio
A Fitch Ratings report reveals that the US credit outlook is increasingly reliant on AI investment confidence, driven by an 18% surge in Q1 IT spending. However, macroeconomic conditions are deteriorating: US GDP growth projections dropped to 1.9%, consumer spending is slowing due to persistent inflation, and private credit defaults hit a record 6.0%.
Read full story at CIO ECONOMIC TIMES