- Economic uncertainty is prompting Americans to significantly reduce spending six months into Donald Trump's second term.
- Consumer spending growth has slowed considerably, with a marginal 0.1 percent increase in June following a decline in May.
- New tariffs introduced by Donald Trump, effective from August 1, are forecast to cost the average household $2,400 by 2025.
- The U.S. economy added only 73,000 jobs in July, a dismal report that reportedly led to the dismissal of the chief labor statistician.
- Widespread consumer anxiety is evident, with many concerned about rising costs for groceries and housing, leading to reduced purchases across various sectors.
IN FULL
