Consumer sentiment dipped in August, with the University of Michigan’s index falling to 58.2 from 61.7 in July. Rising concerns about inflation and personal finances are weighing on households.
Still, the U.S. economy shows resilience. Consumer spending remains steady, unemployment is low, wages are growing, and the stock market is holding up. Certain areas of inflation, including prescription drugs, medical care, producer prices, and mortgage rates, are showing signs of easing.
David Stryzewski, CEO of Sound Planning Group, joins Alicia Summers to weigh in.
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