Still Safe to Count on Consumers?
American consumers have proven surprisingly resilient in recent months. In the face of higher gas prices, rising interest rates, and a slowing housing market, consumers have kept right on spending. That's been critical to the continuing strength of the U.S. economy, because consumers account for more than two-thirds of gross domestic product. One additional positive sign on this front came on June 27: The U.S. Conference Board reported that consumer confidence actually rose a bit in June, with its index hitting 105.7, up from 104.7 in May.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- Ivanka Trump Faces Courtroom Showdown Over $785 Sandals
- Uber Losing Battle in London After Regulator Revokes License
- How Electric Cars Can Create the Biggest Disruption Since the iPhone
- Mercedes Plots Tesla Attack With $1 Billion U.S. Electric Push
- Hewlett Packard Enterprise Is Said to Plan About 5,000 Job Cuts