Why Superyacht Sales Are Key to the Global Economy
They’re a solid barometer of U.S. consumer sentiment.
What does the business of flashy superyachts for the megarich have to do with the health of the U.S. economy?
A lot, it turns out. They’re often seen as a barometer of consumer spending, and as the holiday shopping season gets in full swing, all eyes are on American wallets.
On this week’s episode of “Stephanomics,” Bloomberg reporter Michael Sasso visits a big boat show in Florida only to discover that sales aren’t looking so great. Then host Stephanie Flanders talks with Carl Riccadonna, Bloomberg’s chief U.S. economist, about his somewhat downbeat macro view of holiday spending.
As a bonus, you’ll hear some additional insights from last week’s New Economy Forum in Beijing. Joerg Kukies, Germany’s deputy finance minister, talks with Flanders about the impact Brexit will have on Europe’s biggest economy.