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American consumers aren’t spending like a recession is around the corner
Americans’ feelings about the economy are off the charts.
- The airline industry is facing the problem of not having enough staff instead of not having enough customers.
- Nike had higher earnings than analysts expected.
- For households, this makes some sense. Many Americans are in a decent personal financial situation: They have seen increased home equity and are sitting on savings accumulated during the worst of the pandemic.
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Pessimistic talk
- Almost 80% of consumers surveyed expect bad times in the year ahead for business conditions.
- A survey by the Conference Board of CEOs reports that their confidence is at the lowest level since the pandemic began in 2020.
- About 20% of the CEOs surveyed expected economic condit...
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Talk of a recession can make one happen
- The economic headwinds are very real. Oil prices are up 60% this year, while gas prices are up over 50%.
- Yet, what happens in the economy arises from subjective evaluation of how things will go in the future. Those evaluations are informed by data, not determined by them.
- Fe...
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164 reads
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