Americans spend cautiously at the end of the year

But surveys are showing that this year the situation does not seem to be optimistic, as people are more cautious with spending. Nearly a month of the US government shutdown is also nearly a month that many official figures related to the economic situation and consumption have not been announced. Most recently, the consumer price index (CPI) data was announced but also 12 days later than usual. However, it still shows that inflation, although slightly increased, has been increasing steadily since the beginning of the second quarter. Meanwhile, consumer confidence has continuously decreased. They are very cautious in spending.

Adam, an American, shares: "As a photographer, I have to keep an eye out for some upcoming sales, like Black Friday. There might be some things that are needed for work. But generally, I try not to spend money, because everything is expensive these days, so I try to take advantage of what I have. And if there is something that is especially needed for work, I will consider the sales as a good opportunity to save money."

"Now I just try to spend wisely on food. Everything else can be reused. You know, I have to try to find more options in my shopping cart, because new things are so expensive," said Frahydel Falchuk, an American.

According to the latest survey by the University of Michigan, in October, the consumer confidence index in the US reached only 53.6 points, down 24 points compared to 1 year ago. The main reason has been pointed out by many economists as inflation causing high prices.

Mr. Jim Aiello - Co-founder of Greenwich Economic Forum (GEF) said: "Recent trade conflicts and many types of tariffs are creating some instability. The instability here is not only with production and supply chains around the world , it also has a strong impact on the inflation rate."

According to the latest data from the Federal Reserve Bank of St. Louis, tariffs accounted for approximately 11% of the increase in the personal consumption expenditures (PCE) price index through August. Consumer prices will continue to be a burden on people in the coming months if the trade situation becomes more complicated. However, for the Fed at this stage, fighting inflation is not the number one priority because the US labor market has weakened.

The Fed will have a two-day policy meeting on Tuesday and Wednesday. In the context of the weakening US labor market, this agency will have difficulty finding the balance point of interest rates, ensuring the two goals of controlling inflation and supporting the labor market at the same time.

Source: https://vtv.vn/nguoi-dan-my-chi-tieu-than-trong-dip-cuoi-nam-100251028061012571.htm