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Consumer Confidence Rebounds, Recession Anticipation Remains
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Overview
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Consumer confidence in November increased, reaching 102, up from 99.1 in October, with the Present Situation Index at 138.2 and the Expectations Index at 77.8. Despite the rebound, two-thirds of consumers anticipate a recession within the next 12 months. Plans to purchase cars, homes, and big-ticket appliances decreased, reflecting the lingering influence of high interest rates. Wage-price inflation concerns persist, with 85% of consumers feeling their wages do not match inflation rates.
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How might the anticipation of a recession influence consumer spending patterns and business investments?
In what ways might the lingering influence of high interest rates on consumer spending impact the overall economic recovery?
What measures can policymakers take to address the wage-price inflation concerns and their impact on consumer confidence?
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