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Retailers are trying to get rid of excess inventory by marking down certain products. That’s likely to lure shoppers.
Target, Walmart and others have struggled to keep up with changes in consumer buying and have had to predict demand further in advance.
Walmart customers are thinking about rising prices. Home Depot customers are thinking about rising interest rates.
The University of Michigan survey shows improvement, especially among low- and middle-income consumers, who have struggled most with inflation.
While consumers cut back on goods spending, spending on services jumped.
The mood worsened for the third straight month, but many Americans have financial cushions.
Retail sales rose in June, yet inflation is still a factor in how and where people are willing to spend.
The FDA hasn’t approved ingredients that could make products more pleasing to use — and used more often, says Amanda Mull of The Atlantic.
Even if growth in services sector spending slows this summer, economists don’t see it stopping any time soon.
The 0.4% drop signals that the Federal Reserve’s interest rate hikes are cooling the economy, but there’s a greater risk of recession.