German consumer confidence is expected to decrease in September due to persistently high inflation rates and a lack of clear upward or downward trend in the consumption climate.
Consumer confidence fell in August 2023, erasing back-to-back increases in June and July, as consumers expressed concerns about rising prices, employment conditions, and future business prospects amidst a cooling labor market and high interest rates.
Consumer confidence in the United States has plummeted as high prices and interest rates deter spending, with the Conference Board's consumer confidence index falling to 106.1 in August from a revised 114 in July.
US consumer confidence dropped to 106.1 in August from 114 in the previous month, reversing gains made in June and July, with economists blaming higher gasoline prices as a key factor behind the decline.
Consumer confidence is dropping despite a strong economy, leading to questions about the factors influencing sentiment.
The Mortgage Bankers Association's index of mortgage applications fell to its lowest level since 1996 as consumer demand cooled due to a surge in mortgage rates and low housing inventory.
The U.S. Consumer Price Index (CPI) is expected to have jumped 0.6% in August, driven by resurgent oil prices, while the core CPI is anticipated to have dipped to a 4.3% year-over-year pace; this higher inflation has dampened the summer rally for bitcoin and other cryptocurrencies, as interest rates are likely to stay higher and for longer than anticipated by investors.
Consumer sentiment in the US fell for the second month in a row in September, reflecting concerns about the economy, even though Americans believe that inflation will continue to slow.