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Households feel their finances have been improving, the New York Fed says. But Americans appear to be racking up more credit card debt.
The Labor Department says worker output is up while average hours worked is down. That could help bring down inflation going forward.
Wages are rising faster than prices. So on average, people’s purchasing power is increasing.
Consumers have been sticking with Procter & Gamble. But if high prices make shoppers trade down, the company has products for them too.
Consumers at almost every income level are finding ways to spend on getting out of the house.
Between the pandemic and its economic ripple effects, the consumer experience has been a wild ride.
Inflation was up and inventories down, but consumer spending kept GDP growing — albeit at a slower pace.
Retailers like Walmart and Best Buy are cutting staff as consumers pull back on discretionary spending.
Consumers haven’t seen much reason to hold back.
Viral terms like “bank run” do not help when we’re already looking at high prices, rising interest rates and big layoffs in tech.