The Institute for Supply Management found that service businesses are starting to feel the effects of tariffs on goods.
The decline helped bring the annual rate of inflation at the wholesale level down to 2.2%.
They have been a positive contributor to GDP growth for almost every quarter over the past three years.
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.
Here’s how higher wages, housing shortages and income level can play a role in how much you pay for things like exterminators and car repairs.
Some attribute it to pent-up demand. Others think the American consumer may have changed.
Until recently, consumers had been spending less on goods and more on services. That’s changing. Here’s what it could mean for inflation.
It’s a tale of two inflations: goods versus services.
Wednesday the government will tell us how much prices changed year over year in July. Inflation was an alarming 9.1% in June.
