Reported about 14 hours ago
In January, U.S. consumers reduced their spending by 0.2%, marking the sharpest decline since February 2021, even as inflation eased to 2.5%. This cutback, attributed to economic uncertainty and unseasonably cold weather, raises concerns about future consumer behavior, especially in light of increased tariffs proposed by the White House. While incomes increased by 0.9% due to adjustments in Social Security, the looming tariffs could potentially elevate prices and further slow economic growth, resulting in decreased consumer confidence.
Source: YAHOO