January 17, 2023
Consumers around the world remain uncertain, even as U.S. consumer sentiment is at its highest level since April
The Wall Street Journal points to four signs consumers are pessimistic about the economy. Joanne Hsu says that people are uncertain about their own and their country’s financial future thanks to high energy prices, COVID-19, and the war in Ukraine.
However, according to CNN Business, the Surveys of Consumers recorded its highest reading since January 2022; at 64.6 in the preliminary January survey, it is up 8.2% from December’s 59.7 reading. Joanne Hsu says, “Consumers expect their incomes to be strong. I do think consumers are still waiting to see sustained improvements [in inflation] and that uncertainty over global factors like China and Ukraine do not worsen.”