1 Day
Source:
Los Angeles Times
Economic decline dampens consumer confidence
Consumer sentiment declined in August due to concerns over rising costs and a worsening economic outlook, despite a slight decrease in inflation expectations. The University of Michigan’s sentiment index dropped to 51.7, with consumers anticipating a 4% inflation rate over the next year and a long-term outlook of 3.3%. Elevated gasoline prices and persistent inflation continue to pressurize households.
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