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Recession fears are ticking up this week after an unexpected pickup in inflation sent markets tumbling and gave businesses and consumers new reason to pause.
Two more economic data points coming Friday morning will provide new insights on Americans’ spending habits and their expectations for the economy, and could prompt policymakers to take even more forceful action to combat 40-year high inflation.
Retail sales, to be released at 8:30 a.m. Eastern time by the Commerce Department, will show whether consumers pulled back on purchases of both big-ticket items like cars, appliances and furniture, as well as essentials like clothing and food in June. Consumer spending, which makes up more than two-thirds of the U.S. economy, is an important measure of the country’s economic health.
Meanwhile, a closely watched index of consumer sentiment released by the University of Michigan at 10 a.m. will give economists…
