Recent data indicates that US consumers are showing signs of fatigue, with reduced spending on high-value goods and services, continuing a slowdown in demand that began in the first quarter.
Consumer spending, adjusted for inflation, fell last month by the largest margin since January. Additionally, Americans are pulling back from the housing market, as new-home sales declined sharply, marking the steepest drop in three years. Meanwhile, Federal Reserve officials signaled that there is no urgency to reduce interest rates.
— news from Bloomberg