Americans Cut Back on Spending Amidst Inflation Concerns
===============
#1cee2c6f ver:0.2
US consumer spending remains flat in February amidst inflation concerns. Inflation increased to 3.2%, driven by rising fuel prices, airline fares, clothing, and used vehicles. Nonfarm payrolls increased, but unemployment rose slightly to 3.9% and wages grew by only 0.1%. Credit unions see increased transaction volume, but aggregate portfolio balances fell for the first time since 2023. Consumers are exercising spending restraint, with retail sales weakening and credit card delinquencies rising. Rising incomes and low inflation may help avoid a consumer crunch. #ConsumerSpending #Inflation #Economy...
#newstr #UsConsumerSpending #Inflation #CostOfLiving #DiscretionarySpending #AmericanSpendingHabits
https://here.news/story/1cee2c6f?ver=0.2
US Consumer Spending Faces Challenges Amidst Economic Slowdown
===============
#1cee2c6f ver:0.18
US consumer spending faces challenges amidst economic slowdown as February spending remains flat, consumer sentiment decreases, and inflation rises. Nonfarm payrolls increase but unemployment rate rises slightly. Credit union portfolio data shows increased transaction volume, but aggregate portfolio balances fall. Credit unions advised to review portfolios, offer line increases, and promote debit usage. Rising delinquency rates and weakening retail sales indicate consumers are relying on credit cards and closing wallets. Real incomes, excess savings, and private debt are running out, leading to spending restraint. Government may need to increase spending to avoid crashing economy. #ConsumerSpending #EconomicSlowdown #Inflation #CreditUnions #DelinquencyRates #RetailSales #GDPGrowth...
#newstr #UsConsumerSpending #ConsumerSentiment #Inflation #NonfarmPayrolls #UnemploymentRate #Wages #CreditUnionPortfolio #SeasonalEvents #GroceryPrices #RealIncomes #Savings #Debt #GdpGrowth
https://here.news/story/1cee2c6f?ver=0.18
Oddbean new post about login | logout
Notes by US Consumer Spending Faces Challenges Amidst Econo... | export