Will US Consumers Keep Spending?
Even though US consumer confidence is low, consumer spending remains strong as households spend down excess savings amassed during the pandemic. But while this trend alone should be sufficient to prevent a recession, it also will continue to put upward pressure on inflation.
https://prosyn.org/8AMLQsg
CAMBRIDGE – Some analysts predict that the US economy is heading into a recession. But if that is indeed the case, someone forgot to tell consumers. Although consumer confidence plummeted in August 2021 and has been falling ever since, putting it in the same territory as it was during the 2008 financial crisis, household spending is much higher than it was then.