Reported 4 months ago
Americans are facing challenges as inflation and interest rates rise, causing a slowdown in their spending spree. With savings from the pandemic drying up and consumers accumulating debt, retail sales are being affected. Despite a strong job market and wages outpacing inflation, there are concerns about a potential economic slowdown. Retail earnings are reflecting this, with lower and middle-income customers scaling back on non-essential purchases. Economists are closely monitoring economic data for signs of a weakening economy, especially after disappointing figures in retail sales and job growth.
Source: YAHOO