Consumers’ pessimism about the economy has grown significantly this month, according to the University of Michigan’s monthly survey of consumer sentiment.
Tag: Consumer Spending
INFLATION, CONSUMER SPENDING SLOWED IN MAY
Overall inflation in the U.S. pulled back to a 4-percent annual rate in May, its slowest in two years, the U.S. commerce department reported. The Personal Consumption Expenditures Price Index, the U.S. Federal Reserve’s preferred inflation gauge, slowed to 3.8 percent.