economy is consumer-based, and while there hasn't been a complete loss of consumer confidence, there has certainly been an erosion over the past few years.to 36.3 in October from 43.
economy is consumer-based, and while there hasn't been a complete loss of consumer confidence, there has certainly been an erosion over the past few years.to 36.3 in October from 43.2 in September, missing market forecasts of 41.6. October marked more than 2 years in which the index has been in pessimistic territory.
But despite the depressed economic outlook among the people in the U.S., retailers are expecting Americans to spend a record amount money this holiday season. "Consumers remain in the driver's seat, and are resilient despite headwinds of inflation, higher gas prices, stringent credit conditions and elevated interest rates," NRF Chief Economist Jack Kleinhenz said."We expect spending to continue through the end of the year on a range of items and experiences, but at a slower pace."
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