American consumers were more price-sensitive and may spend less on retail goods in the future

The University of Michigan's consumer confidence index, released on Aug. 13, fell sharply to 70.2% from 81.2%, indicating that the consumer trend was shifting from retail to service consumption. Especially after the end of the last round of epidemic in the United States, the once hot home decoration and household consumption were also cooling. As high inflation continued, American consumers were more price-sensitive and may spend less on retail goods in the future.