The US consumer confidence index has dropped to the lowest level in nearly three months! The home appliance market has suddenly cooled down!

It is learned that according to the U.S. Consumer Confidence Index released by the Conference Board, affected by continued inflation and weak labor market, the consumer confidence index fell slightly in May, from 108.6 in April to 106.4, the lowest level in nearly three months.

Data showed that U.S. consumers' assessment index of current business and labor market conditions fell to 149.6 in May from 152.9 in April. 21.1% of consumers considered business conditions "good", higher than 20.8% in the same period last year, and 20.7% of consumers considered business conditions "bad", lower than 22.2% in the same period last year.

At the same time, consumers' expectations for the next six months (business and labor market conditions) fell to 77.5% from 79% in April, and their willingness to buy cars, houses and appliances, as well as go out and travel, also cooled, mainly due to rising prices of goods.

It is worth noting that American consumers have different views on their financial prospects in the next six months. Among them, 19.0% of consumers expect their income to increase in the future, which is higher than 17.8% in the same period last year. On the contrary, 14.5% of consumers expect their income to be lower, which is also higher than 13.2% in the same period last year.

Overall, US consumer confidence remains at a strong level, which means that retail sales growth will not contract in the second quarter. However, with the decline in the expectation index, it will be difficult for consumer spending to pick up in the coming months.

It is learned that US inflation is at a 40-year high and the Federal Reserve is raising interest rates at the fastest rate in more than 30 years. At present, inflation remains a top concern for consumers, and inflation expectations in May are basically the same as the high level in April. Lynn Franco, senior director of the US Conference Board, said: "Looking ahead, it is expected that soaring prices and continued interest rate hikes will pose a continued downside risk to consumer spending this year."

Editor ✎ Nicole/

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