The Velera Payments Index August 2024: A Deep Dive into Amazon Prime Day

Summary: Our August 2024 edition of the Velera Payments Index shows that growth in consumer spending in July slowed to some of the weakest rates of 2024. Multiple economic indicators also reveal slowing activity and point toward interest rate cuts by the next Fed meeting in September. In this edition, we also present a Deep Dive on the spending activity surrounding the Amazon Prime Day sale, heralded by Amazon as their biggest shopping event ever since the sale started in 2015.