US consumers feel uncomfortable of their near futures. USA’s Consumer Confidence Index was 103 points in September. It was 108 points in August. In just less than a month period, US consumers feel unsafe on their spendings. They’re worrying about high prices with unstable incomes even though inflations slow downed.
Especially, middle class group with about $50K annual income feel unsafe on the current US economic status. This kind of unstable atmosphere might be the truth of most of other developed countries.
Global middle class consumers are accepting the current situation as the beginning of recessions regardless of what their governors are saying.
China could be a different case but as the consumer’s point of view, could be same as US or other Western countries. Middle class Chinese feel unsafe on their future as well and that’s why their savings are increasing recently.
US stock markets couldn’t hold its recovering two days in a row. US equity markets have collapsed big today.
DJ Index was downed by 0.9%, S&P 500 Index was downed by 1.2% NASDAQ Index was downed by 1.3% today.
Stock markets are beginning to worry about US consumer’s fear now. US consumers don’t want to spend their money as much as they did an year ago. Companies are seeing these as the strong sign of recession. Now, who’s going to buy $1,200 I-phone 15 which is more expensive than 13-inch MacBook Air?
Apple was downed by 2.3%, Amazon was downed by 4.0%, MS was downed by 1.7% Tesla was downed by 1.2% today.
US dollar Index was up again today. Index was up 0.2%, ending at 106.18 points.
Euro was downed 0.2%, Pound was downed 0.4% as usual against US dollar. 10 months high US…