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2026-05-27 12:21:04
[Rising Costs Suppress Consumption – Iran Conflict Becomes a "Slowdown" for US Economy] Recent tensions in the Middle East have led to a sharp rise in international energy prices, exacerbating inflationary pressures in the United States and causing a decline in consumer confidence. The Conference Board's May Consumer Confidence Index, released on the 26th, showed a decline, providing the latest evidence of weak consumer confidence. Several key economic indicators recently show that personal consumption, the biggest engine of the US economy, is facing the risk of stalling, and the Iran conflict will become a "slowdown" for US economic growth. Preliminary survey results released by the US research institution Conference Board show that the US Consumer Confidence Index for May was 93.1, lower than the revised 93.8 in April. Data released by the University of Michigan on the 22nd showed that the final value of the US Consumer Confidence Index for May was 44.8, the lowest since records began in 1952, indicating that US consumers are extremely pessimistic about the economic outlook. "Consumer confidence is weak, and people are worried about inflation and rising consumer costs," said Taran Amin, CEO of ELF Cosmetics. (Xinhua)
