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Many people are happy with the job market — higher wages and more openings. Fewer people like where the overall economy is headed.
Inflation is eating away at incomes while the delta variant is discouraging consumers from going out and spending.
The delta variant is causing some consumer pullback, and the expiration of pandemic unemployment benefits on Sept. 5 could play a role in spending.
But as long as people are holding onto their jobs, they’ll still have money to buy.
The University of Michigan’s consumer sentiment index shows the rise of the delta variant this summer has curbed spending.
There have been signs of robust economic growth, but consumer concerns are rising … along with the surge of the Delta variant of COVID-19.
Later this week we will learn how much consumers spent in June, and on what. But that might not be the best picture of what’s going on now.
The economists say they expect employment to recover and that recent price spikes for some consumer goods should moderate.
Morning Consult finds the American Rescue Plan boosted consumer confidence, with low- to middle-income Americans buoyed the most.
Delaware Steel President Lisa Goldenberg talks soaring steel prices and the possibility of a Biden infrastructure bill.