July retail sales showed a modest increase, but several hard goods segments continue to lag. Inflation has eased, with CPI at 2.9% and perhaps paving the way for the Fed to cut interest rates. Wages have outpaced inflation, boosting consumer spending. Unemployment remains low but housing affordability remains a challenge, despite declining mortgage rates. Consumer sentiment is mixed, with higher prices dampening optimism. Household debt continues to rise, and credit card delinquencies are up.
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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
