Posted on 12/04/2022 6:09:16 AM PST by Diana in Wisconsin
Americans are feeling more upbeat and have gotten the holiday shopping season off to a strong start, but they remain anxious about inflation and what it will do to their finances over the coming months.
The latest Forbes Advisor-Ipsos Consumer Confidence Biweekly Tracker finds consumers are generally in a better mood than they’ve been at any time since the summer, and they’re feeling increasingly confident about the job market. Still, they worry about mortgage interest rates, taxes and their monthly bills. Most Expect Prices Will Keep Rising
Only a third (33%) feel more confident about making a major purchase—like a new car or a house—than they did six months ago.
“Consumer confidence remains well behind where we began the year, as a majority of Americans expect inflation to rise,” says James Diamond of Ipsos.
The overall confidence index has ticked up to 50.7 after nearly a two-month slump, hitting its highest point since late August. But it’s down more than 10% from mid-January.
Roughly 6 in 10 Americans (59%) say they believe the rate of inflation will go up, and a slightly higher share (61%) say they expect their monthly expenses will increase. Majorities also think their taxes and mortgage interest rates will rise.
Mortgage rates have been soaring as the Federal Reserve has been steadily hiking interest rates to combat inflation. They exceeded 7% for the first time in 20 years in late October and continue to hover around that mark.
(Excerpt) Read more at forbes.com ...
“If more was spent this year during Black Friday and Cyber Monday, this likely indicates that inflation is causing more households to pay close attention to prices than normal this holiday season,” says Tidemann.
I can’t think of anybody who feels better about today’s economy.
It’s push propaganda by Forbes which is now just another leftard spew rag.
Oh yeah, everything is just hunky dory.
The weedeaters also feel better about the Let’s Go Brandon, FJB, freak show after the “midterm” back to back electoon steals.
If the elections were stolen, why are the thieves alive?
Knocking off lefties tends to piss off the Obama FBI.
I sure don’t, usually I buy my boys and grands gifts, but this year it’s just the grands. No Disney for the 5 yr old granddaughter. Found Black Friday had too many CHINESE MAO JUNK as was Cyber Monday. Goodwill got more, some like new.
The only reason to feel good about the present is that
judged against the immediate future it’s outstandingly better.
“The only reason to feel good about the present is that judged against the immediate future it’s outstandingly better.”
^^THIS^^
I suppose as long their credit cards are not tapped out, some or most will invariably continue to “feel better about today’s economy”...it’s tomorrow and the following days that they worry as that/those credit cards increasingly get tapped out.
“It’s push propaganda by Forbes which is now just another leftard spew rag.”
Yes. Perfectly stated.
Consumer spending is down if inflation is accounted for. And, not the inflation numbers spewed out by BeijingBiden turds. Go back and calculate the numbers like they were 10 years ago.
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