In fact, it has bounced around in that 3% range for six consecutive months.Īs for consumer confidence, it is still well below the post-pandemic high recorded in the spring of 2021. And despite coming off the near double-digit highs in June 2022, inflation has not been able to break below 3%. The unemployment rate is up from the 3.4% low reached in April. With additional context, each of these measures point to a slowdown on the horizon. In the most recent survey by the Conference Board, a nonprofit business research organization, good economic vibes among consumers rocketed to the highest reading since July. As a result, consumer confidence has grown.
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