US Consumers Continue to Grow More Cautious

US consumer confidence fell in July as Americans’ views about current business conditions and the labor market deteriorated. Elevated gasoline and food prices likely weighed on US households, underscoring broader concerns about persistent inflation and the rising cost of living. Julia Wilson, Principal: Consumer & Retail Strategy at KPMG, talks about the squeezed consumer and the back-to-school ramp-up affecting economic data. (Source: Bloomberg)