Consumer stocks saw a resurgence in June, signaling some optimism in the market. However, U.S. households continue to face financial strain. Despite a slight increase in the saving rate in May, it remains significantly below pre-pandemic levels. This suggests that while some Americans are not cutting back on spending, many are struggling to make ends meet. Compounding the issue, U.S. consumers have depleted their savings and are incurring debt at the fastest rate since the 2008 Financial Crisis. This financial pressure is driven by rising prices and elevated interest rates. The tweets discussing these issues were posted on June 29, June 30, and July 1.
Consumer stocks rallied in June — but U.S. households are still feeling pinched https://t.co/sHP2x5ic4m
Saving rate edged up in May, but it's still well below prepandemic norm. Positive spin: Americans aren't feeling the need to pull back spending. Neg. spin: Americans are barely able to make ends meet https://t.co/ETsie91DNM
US consumers have exhausted their savings: To fight rising prices and elevated interest rates, US households have gone into debt at the fastest pace since the 2008 Financial Crisis. #economy #econtwitter #EconomyMonetary #inflation #politics #geopoltics #BankingCrisis https://t.co/8wIJHlRbuL https://t.co/DOEf5MVCXh
"Saving rate edged up in May, but it's still well below prepandemic norm. Positive spin: Americans aren't feeling the need to pull back spending. Neg. spin: Americans are barely able to make ends meet." @bencasselman https://t.co/1LEmjPH5ro
Consumer stocks made a comeback in June — but U.S. households are still feeling the pinch https://t.co/ZPywtoS8QR