Labour market continues to show strength in the face of elevated interest rates
The downturn in spending showed up in the earnings reports of many high-profile retailers
Outside tech layoffs early this year, companies have mostly been retaining workers
Since the pandemic hit, U.S. employers have added jobs at a blistering pace
It's the fourth time in five months that overall U.S. consumer confidence has declined
Consumer spending has remained strong despite the Federal Reserve raising interest rates nine straight times
High inflation contributed to consumer anxiety
Index declined for second month in a row
Purchasing intentions for big-ticket items cooled slightly
Higher prices and the war in Ukraine contributed to a decline in the six-month outlook