पल्स चेक: मुद्रास्फीति और उपभोक्ता मूड आर्थिक परिदृश्य पर प्रकाश डालते हैं

पल्स चेक: मुद्रास्फीति और उपभोक्ता मूड आर्थिक परिदृश्य पर प्रकाश डालते हैं

Pulse Check: Inflation and Consumer Mood Highlight Economic Scene

The week’s range of economic reports should provide a crucial reading on which way the economy is headed.

  • Global News
  • 110
  • 25, Mar, 2024
Jivika Chawla
Jivika Chawla
  • @JivikaChawla

Pulse Check: Inflation and Consumer Mood Highlight Economic Scene

The American economy relies heavily on consumer activity, which constitutes two-thirds of the gross domestic product (GDP).

This week, there are two significant indicators of consumer sentiment. The first, released on Tuesday by The Conference Board, will reveal if confidence rebounded in March after unexpectedly declining in February. The organization attributed the drop to concerns regarding the labour market and the U.S. political environment. On Thursday, the University of Michigan will provide its assessment of March's consumer sentiment.

One question arises: will the recent avoidance of a government shutdown by Congress bolster consumer confidence? Confidence had been steadily rising for three months before the February setback. Additionally, how consumers respond to the Federal Reserve's recent meeting and the upward revision of GDP growth to 2.1% from the previous 1.4% will be of interest.

Despite the optimistic economic outlook, concerns persist regarding inflation, which has exceeded the Fed's preferred levels. This may delay any potential interest rate cuts until at least June, according to the central bank's stance.

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Jivika Chawla

Jivika Chawla

  • @JivikaChawla