US Consumers Remain Optimistic Despite Inflation Concerns
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US consumers remain optimistic despite inflation concerns, with retailers experiencing low single-digit sales gains during the 2023 holiday season. Credit card debt reached $1.08 trillion, indicating increased consumer spending. However, concerns about inflation have led consumers to focus on finding value and discounts. The shift from goods to services may impact holiday retail sales. Online shopping has played a crucial role in keeping inflation in check, saving households nearly $3500 since 2019. Inflation is expected to ease in 2024, but over half of US consumers plan to cut back on retail spending. The summer of 2024 is expected to be remembered as the summer of the US consumer, with robust consumer spending and lower-income groups not showing a slowdown. Retailers are responding with price cuts. #ConsumerSentiment #InflationConcerns #RetailSales #OnlineShopping #HolidaySeason #USConsumers #RetailSpending...
#newstr #UsConsumerSpending #Inflation #Retail #Summer #Travel