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Disney and Uber Report Strong Consumer Spending on Travel and Deliveries
Disney reported healthy demand at its parks and resorts. Uber's CEO said spending on rides and delivery orders remains strong with no signs of weakening. The reports come as gasoline prices rise and follow a government estimate showing slowing consumer spending in the first quarter.
May 6, 6:30 PM·1m read1 source
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Spending among Americans is holding up despite volatility related to the Iran war, according to two large U.S. consumer companies. Disney said demand at its parks and resorts is healthy. Uber's CEO said spending on rides and delivery orders remains really strong and the company does not see any signs of that weakening at this point.
The results suggest rising gasoline prices in the U.S. have not yet dampened demand among households. The U.S. Commerce Department’s advance estimate of first-quarter GDP projected that consumer spending was slowing. A report from a Federal Reserve Bank of New York noted that lower-income Americans are cutting back on gas purchases.
Travelers are increasingly looking for alternative destinations as airfares increase, according to Bloomberg.
The companies reported their observations on May 6 as indicators of current household behavior. Disney pointed to sustained interest in its travel offerings while Uber highlighted stability in both mobility and food delivery services. The statements provide one snapshot of consumer activity even as broader economic measures point to moderation in spending.
