discretionary

Tech is taking a back seat to sectors such as healthcare, materials, and consumer discretionary.

Yet “most expenses related to housing are fixed or nonnegotiable, including mortgage payments, water & sewer charges, insurance, fuel, and electricity, leaving maintenance as the largest single category of discretionary operating costs.”

But he’s ruled out dollarization and instead runs an opaque and discretionary monetary regime.

Surveys also suggest discretionary spending may fall in step with income brackets.

Consumer spending weakened nationally, with declines in retail and discretionary categories, though high-end retail remained resilient.