Analyses of US main street economic indicators. - Part 5

 University of Michigan consumer confidence index: 59.7

The consumer confidence index has been declining because of the elevated inflation and this will reduce US consumer spending in the future.  However, in view of the rising inflation, consumers are frontloading their purchases at this present moment but this is unsustainable and is only temporary.

CPI forecast:

The US inflation is projected to exceed 8.2% year on year in the next reading by the Cleveland FED and the US CPI will hit 10% in the coming months if the Ukraine-Russia war doesn't stop soon.

In view of the rising inflation in all spectra of the economy, Goldman Sachs has reduced US GDP growth to 1.75% for 2022.