RED FLAG: Americans are saving less, a potentially troublesome sign for the US economy
Doug McMillon, president and CEO of Walmart Inc.
"On the food side, we're seeing double-digit inflation, and I'm concerned that, that inflation may continue to increaseSurveys of Consumers, May 2022 Final Resultsfell over 10% in May to a reading of 58.4, the lowest since August 2011. "The recent drop was largely driven by continued negative views on current buying conditions for houses and durables, as well as consumers’ future outlook for the economy, primarily due to concerns over inflation…""The consumer is really pessimistic, the Michigan survey came out and told us that people are as pessimistic about consumption as they’ve been going all the way back financial crisis and one way you can see that is the savings rate has dipped to below 5% which is the...
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