Consumers see inflation—and spending—cooling off in the year ahead, New York Fed survey shows
The one-year inflation outlook declined to 5%, down 0.2 percentage point from the previous month and the lowest level since July 2021.
The one-year inflation outlook declined to 5%, down 0.2 percentage point from the previous month and the lowest level since July 2021.
Those figures bucked the trend in the broader economy, which showed unemployment in the U.S. fall to 3.5%.
Private payrolls rose by 235,000 for the month, well ahead of the 153,000 Dow Jones estimate.
Demand for employment remained high in November as companies looked for workers to fill positions despite worries of a looming recession.
The U.K.'s economic contraction in 2023 will be almost as deep as that of Russia, economists expect, as a sharp fall in household living standards...
The global economy likely faces a decade of sluggish growth, according to Daniel Lacalle, author and chief economist at Tressis Gestion.
Consumers pulled back on spending in November, failing to keep up with even a muted level of inflation.
The European Central Bank opted for a smaller rate hike at its Thursday meeting, taking its key rate from 1.5% to 2%.