Americans are already starting to pull back on their spending, survey shows | CNN Business

Monthly household spending growth, after hitting a series high of 9% in August, fell to 7.7% in December, according to the New York Fed’s latest household spending survey. However, that’s still well above December 2021 and pre-pandemic levels of 5.1% and 2.5%, respectively, according to the survey, which is released every four months.

Despite an expected decline in overall spending, the likelihood of buying a big-ticket appliance or electronics product in the next four months increased as compared to August while it declined for furniture, home repairs, vacations, vehicles and homes, according to the survey. A slightly larger share of survey respondents also noted that if they were to receive an unexpected 10% pay raise, they would put it toward paying down debt.

Let's go Brandon!

Stop using republican surveys

Bidenflation

But the Biden Admin continues to spend like a drunken sailor.

I wonder why?

Already? Such rich out of reality person comment. Food is a luxury.

Drumps would have said 'rain' in the spending.

Thanks Biden

I’m sure as hell not going to pay $9 dollars for a dozen eggs and never will shop at a store charging that much the price gouging is out of control. There is no egg shortage.

print me some more covid money so i can buy crypto

This is Biden's fault and the communist democrats.

Humans are quick to spend, and slow to stop. This causes inflation and how long it lasts. Per Milton Friedman

Can hackers be hired to take money?👀🥸

Well yea, eggs are costing more than a mortgage now. This is how inflation works.

Recession incoming. Bidenflation Bidenomics

Yeah our government spent freely and gave billions to Ukraine.

Who cares

Capitalism is dying, cope.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

One Chinese province spent $22 billion on eliminating Covid before policy U-turn | CNN BusinessA number of regional governments in China have revealed the enormous sums they've spent on fighting the pandemic, reinforcing a previous state media report suggesting that mounting costs were a key reason why the country abruptly abandoned its zero-Covid policy. The priority of saving lives over money is definitely higher in China.
Source: cnni - 🏆 326. / 59 Read more »

China allows Didi to resume signing up new users as tech crackdown eases | CNN BusinessRide-hailing giant Didi received approval to resume new user registration in China, it said Monday, providing more evidence that Beijing's regulatory crackdown on tech giants might be coming to an end.
Source: cnni - 🏆 326. / 59 Read more »