. A looming fight to increase the federal government’s $31.4-trillion borrowing cap also poses a threat to the economy.
The share of those planning to buy household appliances over the next six months dropped to 41%, the smallest since September 2011, from 44.8 in March. The proportion planning to buy motor vehicles was the smallest in nine months. That skepticism also extended to home purchase plans. A separate report from the Department of Commerce on Tuesday showed new home sales surged 9.6% to a seasonally adjusted annual rate of 683,000 units in March, the highest level since March 2022.