The economy grew at a moderate pace in Q4 2023, with inflation ticking up slightly in March, with core CPI rising 3.8%. U.S. consumer sentiment remains stable, with steady spending despite some pockets of weakness. Disposable income is up, but so is credit card debt.
Retail sales are rising, with an increase in total retail and food services sales of 4% year-over-year. However, hard goods retail sectors continue to show sluggish sales. Unemployment remains low and job growth is strong. Housing affordability improved but interest rates and climbing consumer debt remain a challenge to home sales.
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