Consumers Show Resilience But Plan to Cut Back as Economic Pressures Mount

Retail sales grew steadily for 6 straight months, showing consumer resilience despite high inflation and interest rates.

Individual spending sentiments show 92% of people reduced spending in the past 6 months, especially middle-income households.

Over 75% of consumers plan to cut back on non-essential holiday spending due to economic pressures.

A slowdown in consumer spending would support the Fed's goal to control inflation.

Job growth, low unemployment, wage gains have driven consumer spending, but may not be sustainable as stimulus funds diminish.