Inflation, COVID push consumer confidence to six-month low
September 1, 2021
Although the Conference Board’s latest report shows drooping consumer confidence in August due to anxiety over surging COVID-19 infections and rising prices — home prices, in particular — there were also signs that spending was shifting from consumer goods to services, such as those related to vacation travel. Further, the Board’s labor market differential metric maintained a decently-high reading of 42.8 for August, up from 44.1 in July, indicating that the population sees jobs as fairly plentiful.
Recent News
Procter & Gamble Reports Mixed Results After Price Hikes
Procter & Gamble’s recent quarterly results showed a mix of gains and setbacks. Despite facing challenges in attracting shoppers due to increased prices over the past two years, the company managed to exceed earnings expectations.
JetBlue and Southwest Airlines Collision Narrowly Avoided at Reagan National Airport
An air traffic controller instructed one plane to cross the runway at the same time a second plane was taking off.
Apple Removes WhatsApp and Threads From China App Store
Apple has taken down WhatsApp and Threads from its app store in China due to an order from the country’s internet regulator over national security concerns.
Pesticide Risks in US Produce: What You Should Know
Consumer Reports has completed an extensive review of pesticides in 59 types of fruits and vegetables commonly found in the U.S. The study analyzed seven years of data from the U.S. Department of Agriculture, revealing concerning findings about pesticide residues in our food.