Economic boost from Taylor Swift's ‘Eras' tour could be overstated, Nomura warns [CNBC]
trivago N.V. - American Depositary Shares (TRVG)
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The American pop star has spent nearly a year crossing the U.S. and globe with her high-flying “Eras” tour. And the economic impact of the “Karma” singer's show has caught the attention of everyone from the Federal Reserve to Wall Street Her tour undoubtedly helped the local economies she visited, according to a new report out from Japanese investment bank Nomura. But the firm questions how much of an imprint it made on national data. “Her boost to consumption has certainly enchanted US economic analysts, but we believe the total macroeconomic effect is probably overstated,” Nomura global economist Si Ying Toh wrote to clients last week. Between the first and third quarter of 2023, Swift's venture alone lifted nominal U.S. retail sales by 0.03% and real gross domestic product, a measure of economic output, by 0.02%, Nomura estimates show. For all of 2023, the 14-time Grammy winner's tour accounted for 0.5% of nominal consumption growth, according the firm's calculations. Th
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