Stocks week ahead: 3 things making the American consumer miserable

 Stocks week ahead: 3 things making the American consumer miserable

America’s economy can’t fully recover without help from its consumers, who are the backbone of the nation’s economic strength. But rising inflation, goods shortages, supply chain issues and rising coronavirus cases have left consumers in a difficult spot.

Consumer spending contributes some two-thirds of America’s gross domestic product, the broadest measure of economic activity. But consumer spending has taken a hit in some parts of the country as the Delta variant spreads.

The Federal Reserve said in a report last week that economic growth “downshifted slightly to a moderate pace” over the summer as worries over the coronavirus caused consumers to dine out and travel less.

The central bank’s Beige Book report, which compiles anecdotes from businesses, found that retailers in New York have grown less optimistic about their prospects for the rest of 2021. Car dealers say there’s “no end in sight” to the chip shortage that has slashed…

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