Economist: Rising Energy Costs Weaken U.S. Household Consumption Capacity
2026-04-15 05:34
Odaily 訊 Paolo Zanghieri, Senior Economist at Generali Investments, pointed out that rising energy costs and persistent inflation are impacting U.S. households at a time when real income growth has already slowed, leading to a weakening momentum in consumption growth. It is projected that U.S. household consumption growth will be only 1.7% in 2026, about one percentage point lower than in 2025. The main reason for the slowdown in consumption growth is the deterioration of the labor market. Employment growth in the private sector has largely stagnated, hiring activity is at its lowest level since April 2020, and the decline in the quit rate signals that future wage growth will slow. (Jin10)
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