U.S. consumer confidence slipped to its lowest level in 16 months as persistent inflation and rising interest rates have Americans as pessimistic as they’ve been about the future in almost a decade.
Consumer confidence ticked down slightly in May but remains nearly as high as its been since the pandemic began.
U.S. consumer spending fell 0.4 percent in November, the first decline since April, as Americans confronted a newly resurgent virus.
U.S. consumer confidence fell to a reading of 96.1 in November as rising coronavirus cases pushed American optimism down to the lowest level since August.
Americans may feel whiplashed by a report Thursday on the economy’s growth this summer, when an explosive rebound followed an epic collapse.
When evaluating a store’s safety measures, customers said cleaning protocols and the presence of masks and other barriers were most important to making them feel safe shopping there.
U.S. consumer confidence showed a strong gain in January, bolstered by continued strength in the job market.
American consumers boosted their spending by just 0.1 percent in August, the smallest gain in six months, even as their incomes rose at a solid pace.
Consumer confidence fell sharply in September, a likely indication that growing economic uncertainties are taking a toll on American households.
The U.S. economy slowed in the spring, and most analysts expect it to weaken further in the months ahead. Yet the main driver of growth – consumer spending – remains vigorous enough to keep the economy growing steadily if still modestly.
The Conference Board, a business research group, said Thursday that its consumer confidence index fell to 128.1 in December, down from 136.4 in November and lowest since July.
Nearly 80 percent of Connecticut residents plan to vacation outside of state in the next six months, according to the InformCT Consumer Confidence Survey.