All articles tagged with #consumer confidence index
US stocks were mixed as the Dow Jones fell about 0.3% and the S&P 500 was little changed, while tech stocks rose 0.2%. Investors are awaiting the PCE inflation report and consumer confidence has fallen from a two-year high. Macy's plans to close 150 stores, and Whirlpool's guidance reflects continued pressures in the housing market.
Consumer sentiment in the US has seen a significant boost, with a 13% increase in optimism about the economy, primarily driven by improvements in the expected trajectory of inflation. This follows a wave of optimism in November, particularly among the 55-plus age group, as concerns over higher prices, wars, and rates eased. Consumers now expect prices to rise at the slowest pace in two years, which is noteworthy for the Federal Reserve as it considers inflation and its impact on consumer behavior.
Consumer sentiment in the US appears to be growing more cautious as the University of Michigan's consumer sentiment index slightly declined in August. Consumers are tentative about the economic outlook, particularly regarding inflation, despite strong income expectations. The reading reflects divergent views among consumers, with some emphasizing the improvement over last summer's high inflation and others focusing on the lack of notable changes in economic conditions. Inflation expectations for the year ahead remained stable but higher than pre-pandemic levels, which could impact wage demands and inflation.