Economic Growth Slowing Despite Consumer Spending as Tech Giants Benefit from AI Boom

America's economy is booming, yet business profits are stagnating and growth is slowing. Consumers are spending less and China's economy is sluggish.

Manufacturing boom is decelerating - factory construction and investments in things like chip fabrication plants are being delayed.

Carmakers are postponing electric vehicle production due to lower than expected demand.

Big tech companies like Amazon, Alphabet, Microsoft, and Meta are still seeing strong growth, fueled by demand for AI products and services.

Most companies outside of big tech are still only experimenting with AI, so it may be some time before it drives profits for broader corporate America.