Consumer Confidence on Par with Economic Growth

The latest report by CNBC/National Retail Foundation (NRF) sheds light on the positive outlook of consumer spending, which continues to rise into 2024. In January, core retail sales increased by 3.2% from the previous year, and six out of nine categories saw retail sales growth. This news comes ahead of Thursday’s U.S. retail sales data from the Census Bureau, which will offer more insight into consumer spending patterns. Additionally, household views on personal finances and the economy are looking brighter as high inflation continues to fade, with most people reporting that their finances are in a better state than a year ago. However, despite this optimism, views on the labor market were slightly less rosy, with people expressing lower confidence in finding another job within the next three months.

By Editor

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