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 in the US fell in August due to concerns about inflation, reversing the optimism from the past two months, according to The Conference Board's Consumer Confidence Index.
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.
Retail earnings indicate a slowdown in consumer spending for late 2023, causing investors to be uncertain about the direction of the market and retailers to consider discounting to attract budget-conscious consumers.
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.
Wall Street is optimistic about the September trading month, but there are concerns about falling consumer confidence data and a potential recession next year, according to Commonwealth Financial Network Chief Investment Officer Brad McMillan.
Canadian consumer and business confidence has plummeted to its lowest levels since the pandemic, leading to a disconnect between the state of the economy and the public's negative sentiment, which could be attributed to anxiety-inducing inflation and concerns about rising interest rates as well as worsening structural problems such as unaffordable home prices and stagnant GDP per capita.
The US consumer is predicted to experience a decline in personal consumption in early 2024, which could lead to a potential recession and downside for stocks, as high borrowing costs and dwindling Covid-era savings impact household budgets.
Consumer spending in the US is showing signs of cooling, with retail sales expected to slow down in August, indicating that the resilience of the consumer may be waning due to increased borrowing, depleted savings, and the impact of inflation.
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.
Builder confidence in the US housing market unexpectedly dropped for the second consecutive month in September, as high mortgage rates dampened consumer demand for new homes.
U.S. homebuilder confidence fell to its lowest level since April in September due to high interest rates, leading to decreased affordability for buyers and a decline in demand for new home construction.
