Yahoo Entertainment on Nostr: US consumer confidence recovers; inflation worries persist ========== U.S. consumer ...
US consumer confidence recovers; inflation worries persist
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U.S. consumer confidence unexpectedly improved in May after deteriorating for three straight months amid optimism about the labor market. The Conference Board's consumer confidence index increased to 102.0 this month from an upwardly revised 97.5 in April. Consumers were upbeat about the stock market and more planned to buy major household appliances over the next six months. However, worries about inflation persisted and many households expected higher interest rates over the next year. The survey also showed that more consumers believed that the economy could slip into recession in the next 12 months. Despite concerns about higher prices and an economic downturn, consumers are not planning to cut back on spending in a significant way. Buying plans for major appliances rose, while those for houses dropped amid higher mortgage rates and elevated home prices. House prices increased 6.7% in March on a year-on-year basis. Prices are being driven by a shortage of homes available for sale, and housing costs have been the major driver of inflation.
#UsConsumerConfidence #Inflation #LaborMarket #StockMarket #MajorHouseholdAppliances #InterestRates #Recession #BuyingPlans #HousingMarket #HousePrices
https://www.yahoo.com/news/us-consumer-confidence-improves-inflation-141648571.html
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U.S. consumer confidence unexpectedly improved in May after deteriorating for three straight months amid optimism about the labor market. The Conference Board's consumer confidence index increased to 102.0 this month from an upwardly revised 97.5 in April. Consumers were upbeat about the stock market and more planned to buy major household appliances over the next six months. However, worries about inflation persisted and many households expected higher interest rates over the next year. The survey also showed that more consumers believed that the economy could slip into recession in the next 12 months. Despite concerns about higher prices and an economic downturn, consumers are not planning to cut back on spending in a significant way. Buying plans for major appliances rose, while those for houses dropped amid higher mortgage rates and elevated home prices. House prices increased 6.7% in March on a year-on-year basis. Prices are being driven by a shortage of homes available for sale, and housing costs have been the major driver of inflation.
#UsConsumerConfidence #Inflation #LaborMarket #StockMarket #MajorHouseholdAppliances #InterestRates #Recession #BuyingPlans #HousingMarket #HousePrices
https://www.yahoo.com/news/us-consumer-confidence-improves-inflation-141648571.html