Conference Board's Lundh: Data Signal Shallow Recession

The video discusses various economic indicators, highlighting a decline in consumer confidence, particularly among those over 55. It examines the impact of pandemic savings on consumer spending and anticipates a potential recession. The discussion also covers the debt ceiling deal's implications for entitlements and consumer behavior, as well as labor market trends showing a slight cooling off. Finally, it addresses how lower gas prices are affecting consumer sentiment and spending intentions.

What was the main reason for the decline in the present situation index?

• Higher inflation rates

• Softer labor market conditions

• Increased consumer spending

• Improved economic outlook

How is the pandemic excess savings affecting consumer spending?

• It is reducing consumer spending

• It is causing a recession

• It has no impact on consumer spending

• It is supporting consumer spending

What is one potential effect of the stricter work requirements included in the debt ceiling deal?

• Increased consumer confidence

• Higher unemployment rates

• Dampened confidence among lower-income groups

• Improved economic growth

What is the expected impact of the debt ceiling resolution on consumer sentiment?

• It will lead to increased inflation

• It will have no impact

• It will cause a decline in consumer sentiment

• It will be a tailwind for consumer sentiment

Which sectors initially showed signs of labor market softness?

• Agriculture and construction

• Technology and finance

• Healthcare and education

• Retail and manufacturing

How have gas prices affected consumer spending intentions?

• Increased spending on automobiles

• No change in spending intentions

• Decreased spending on larger ticket items

• Increased spending on vacations

What change was observed in consumer spending intentions for vacations?

• No change from the previous month

• An increase to the highest level since last summer

• A decrease to the lowest level since last summer

• A slight increase compared to last year