US Consumer Confidence Drops to Lowest Since Feb. 2021

The video discusses the current economic situation, focusing on declining consumer confidence and the potential for a recession. It highlights key economic indicators, such as consumer confidence numbers and labor market conditions, and explores how these factors contribute to recession concerns. The video also examines changes in consumer spending patterns and inflation rates, noting a shift from goods to services and a decline in inflation expectations.

What was the overall consumer confidence number mentioned in the video?

• 95.7

• 98.4

• 147.2

• 141.3

What economic factor is causing uncertainty about the definition of a recession?

• High unemployment rates

• Tight labor market

• Rising interest rates

• Decreasing consumer spending

How did the pandemic affect people's bank accounts according to the video?

• Depleted them completely

• Left them with hefty balances

• Made them rely on credit

• Caused widespread bankruptcies

What shift in consumer behavior is highlighted in the video?

• Increased savings rates

• Increased spending on goods

• Decreased spending on travel

• Shift from buying goods to services

What was the change in the Conference Board's inflation rate for a 12-month period?

• Increased to 8%

• Decreased to 7%

• Remained at 7.6%

• Increased to 7.6%