Monday, October 6, 2025

Latest

US Consumer Confidence Dips for Third Straight Month as Inflation Intensifies

Consumer sentiment is on a downward slide once again, as Americans’ views on the US economy turn bleak amid surging inflation and rising interest rates.

The latest Consumer Confidence Index print from the Conference Board fell 2.7 points from a downwardly revised 98.4 in June to 95.7 in July. Last month’s reading was the lowest since February 2021, and marks the third consecutive month of declines. The weakening in sentiment comes as 40 year-high inflation continues to bite Americans’ pocketbooks, simultaneously as rising interest rates send debt costs substantially higher from pandemic lows.

The declining confidence is indicative of an economy that is losing momentum, as consumers reduce their discretionary spending just as the Fed is backed into a corner of aggressive monetary policy tightening. The Conference Board’s gauge of future expectations slid to 65.3— the lowest since 2013, as respondents’ views on their financial prospects takes a pessimistic turn.

“Concerns about inflation— rising gas and food prices, in particular— continued to weigh on consumers,” said the Conference Board’s senior director of economic indicators Lynn Franco. “Looking ahead, inflation and additional rate hikes are likely to continue posing strong headwinds for consumer spending and economic growth over the next six months.”

The report also brought attention to a labour market that is rapidly losing its luster. The proportion of consumers who feel that there is still a “plentiful” amount of jobs available fell to just above 50%, a 12-month low. Indeed, an increasing number of companies are reporting dismal revenues and announcing layoffs, including Shopify, which on Tuesday announced it will be letting go 10% of its workforce.

Information for this briefing was found via the Conference Board and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Fortune Bay: The Potential Billion Dollar Project

Japan Gold Enters New Chapter as Barrick Alliance Concludes – John Proust

Barrick Mining’s “Company Defining [Gold] Discovery”

Recommended

Nord Precious Metals Produces High Grade Silver Concentrate From Tailings

ESGold Secures $9 Million In Non-Dilutive Funding From Ocean Partners

Related News

Bank of Canada Delivers 75 Basis-Point Hike, Vows to Continue Raising Rates as Inflation Becomes Entrenched

What likely is not a surprise to markets anymore, the Bank of Canada raised borrowing...

Wednesday, September 7, 2022, 11:08:37 AM

Fed Officials Signal Intent to Wind-Down Stimulus as Early as This Year

Oil and other commodities were under pressure on Thursday, after the Federal Reserve finally indicated...

Friday, August 20, 2021, 10:50:00 AM

Fed’s Key Inflation Figure Soars by Most Since 1991

US personal spending remained modest in July amid a decline in merchandise outlays, but the...

Friday, August 27, 2021, 01:45:30 PM

Crude Oil Jumps Above $120 as EU Members Stall on Russian Oil Embargo, Shanghai Eases Covid-19 Restrictions

Crude prices hit a two-month high this week, as China continued to ease Covid-19 restrictions...

Monday, May 30, 2022, 03:41:00 PM

Skyrocketing Inflation Creating Financial Headaches for Almost 50% of American Households

Nearly half of American households reported they are directly facing worsening financial hardships due to...

Saturday, December 4, 2021, 11:00:00 AM