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“July’s LSEG/Ipsos Primary Consumer Sentiment Index finds that overall American consumer confidence has rebounded from last month’s abrupt decline and now sits at its
highest point of the year,” Johnny Sawyer of Ipsos states. “This month marks the first time since February 2022, prior to the start of the Ukraine War, that the current month’s
consumer confidence is significantly higher than it was at the same time the previous year. As inflation slows, Americans show increased optimism in their job security, ability to invest in the future, and future expectations of the economy. Taken all together, this may be an inflection point in American economic sentiment back to an upswing.”
Jharonne Martis, Director of Consumer Research at LSEG, said, “Looking forward to the second quarter of 2023, our LSEG retail earnings data show that consumers are spending most of their money on household products and staples. Moreover, not all shoppers might be eyeing discretionary items this quarter. And instead of buying apparel and general merchandise, consumers are prioritizing their spending on travel and eating out again this year.”
Download the full report here.
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