Group 1 - The consumer confidence index in Indonesia for June is reported at 117.8, which shows a slight increase from May's index of 117.5 [1]

Core Points - The recent passage of the "Big Beautiful Act" in the U.S. Congress reflects a significant shift towards austerity measures that disproportionately affect lower-income individuals and workers [4][10] - The act extends tax benefits for the wealthy while cutting food assistance and medical subsidies for the poor, indicating a regression to a more conservative societal structure reminiscent of the Cold War era [6][10][11] - The U.S. is facing a growing national debt, nearing $35 trillion, with interest payments exceeding $1 trillion annually, prompting the need for spending cuts [9] Summary by Sections Legislative Changes - The "Big Beautiful Act" passed with a narrow vote of 218 to 214, with no Democratic votes in favor and only two Republicans opposing [4] - Key provisions include the extension of tax benefits for the wealthy and cuts to food assistance and medical subsidies for the poor [4][10] Economic Context - Over the past decade, average wage growth in the U.S. was around 3% annually before the pandemic, but real purchasing power has stagnated despite nominal increases of over 5% in recent years [6] - The wealth of the top 10% of Americans increased by over 15% in the past year, driven by stock market and real estate gains, while lower-income households have seen their savings diminish [7] Social Implications - The cuts to welfare programs, including a 4% reduction in food assistance and over 1% in children's health insurance subsidies, suggest a return to a society where the working poor must work harder for less support [10][11] - The current economic environment is characterized by a strong dollar and high interest rates, which may lead to further cuts in education and housing subsidies if fiscal pressures continue [13] Consumer Sentiment - Despite rising stock markets, consumer confidence remains low, with many Americans expecting negative economic conditions in the near future [15] - The passage of the "Big Beautiful Act" indicates a prioritization of corporate interests and fiscal strength over the welfare of ordinary workers, raising concerns about the long-term societal impact [15][17]

Employment Data - In June 2025, the U.S. added 147,000 non-farm jobs, exceeding the expected 110,000 and the revised previous value of 144,000[11] - The unemployment rate fell to 4.1%, lower than the expected 4.3% and previous 4.2%[11] - Average hourly earnings increased by 3.7% year-on-year, below the expected 3.9% and revised previous increase of 3.8%[11] Government vs. Private Sector Employment - Government jobs contributed nearly half of the new employment, with 73,000 jobs added, significantly higher than the previous month's 7,000[15] - Private sector employment weakened, with service sector jobs dropping from 141,000 to 68,000, indicating potential economic pressure from tariff disruptions[18] - Retail sector employment rebounded slightly, adding 2,000 jobs compared to a loss of 7,000 in the previous month[24] Labor Market Dynamics - The labor force participation rate decreased to 62.3%, down from 62.4% in the previous month, with a notable decline in youth employment willingness[27] - The U6 unemployment rate, which includes those working part-time for economic reasons, fell to 7.7% from 7.8%[32] - Permanent unemployment decreased by 29,000, while temporary job losses also declined, suggesting stability in the job market[32] Federal Reserve Outlook - Given the unsustainable rise in government employment and the risk of weakening non-farm data, the probability of the Federal Reserve restarting rate cuts in the second half of 2025 is significant[20] - Market expectations indicate a 60% chance of a rate cut in September 2025, with only a 5.2% chance in July[22]

Core Viewpoint - The article discusses the emerging trend of "revenge savings" among American consumers, who are increasingly prioritizing savings over spending due to concerns about tariffs, inflation, job security, and market volatility [1][2]. Group 1: Consumer Behavior and Savings Trends - A recent survey by Vanguard indicates that 71% of Americans plan to adjust their savings strategies this summer, focusing on emergency savings and flexibility [1]. - The personal savings rate in the U.S. has increased from 3.5% in December of the previous year to 4.5% in May [1][4]. - In 2024, Americans are reportedly allocating a significant portion of their wages into 401(k) accounts, with the average contribution rate reaching a record high of 9.5% in Q1 2025 [11]. Group 2: Economic Concerns and Consumer Sentiment - Economic uncertainty stemming from tariff negotiations is causing consumers to reduce spending and increase savings [2][4]. - The consumer confidence index from the Conference Board dropped from 98.4 in May to 93.0 in June, indicating a decline in consumer sentiment regarding the economy [7][8]. - Concerns about tariffs remain the primary worry for consumers, followed by inflation, with nearly 70% of respondents anticipating a recession within the next 12 months [8][10]. Group 3: Impact of Tariffs and Inflation - The uncertainty surrounding tariffs is expected to exert pressure on economic activity, making businesses hesitant to invest or hire [4]. - A decline in consumer spending was noted in May, with a 0.1% decrease following a 0.2% increase in April, attributed to the waning effects of preemptive purchases made to avoid tariffs [5][6]. - The article highlights that many consumers are shifting from "revenge spending" post-pandemic to "revenge savings," as they seek to build cash reserves for potential future expenses [6][10].

Group 1 - The core trend among American consumers is shifting from "revenge spending" to "revenge saving," indicating a reduction in spending to rebuild savings [1][6] - A recent survey by Vanguard shows that 71% of Americans plan to adjust their savings strategies this summer, prioritizing emergency savings and flexibility [1][6] - The personal savings rate in the U.S. has increased from 3.5% in December last year to 4.5% in May this year, reflecting a growing trend towards saving [1][3] Group 2 - Concerns over tariffs, inflation, job security, and market volatility are driving consumers to cut spending and increase savings [1][9] - The consumer confidence index from the Conference Board dropped significantly, indicating heightened anxiety among consumers regarding the economic outlook [7][8] - A Santander Bank survey revealed that 45% of Americans have increased their emergency savings, with 53% expressing greater concern about inflation compared to earlier in the year [6][9] Group 3 - The trend of "revenge saving" is also reflected in the increased contributions to 401(k) plans, with Fidelity reporting a record high savings rate of 9.5% in Q1 2025 [12] - Nearly half of the participants in a Vanguard study have raised their savings rates, indicating a shift towards more cautious financial behavior [12] - Economic uncertainty, including potential job losses related to government spending cuts, is prompting consumers to accumulate cash for unexpected costs [10][11]

24 June 2025 | 10:51AM EDT USA: Consumer Confidence Well Below Expectations; Inflation Expectations Decline Again BOTTOM LINE: The consumer confidence index decreased in June, well below expectations for an increase. The labor differential declined in June to the lowest level since March 2021, and the survey's measure of short-term inflation expectations declined. US MAP: Consumer confidence -6 (3, -2) KEY NUMBERS: Consumer confidence 93.0 for June vs. GS 100.6, median forecast 99.8, prior revised 98.4 MAIN ...

财经网站Forexlive评美国6月密歇根大学消费者信心指数：市场情绪已从4月至5月的低点反弹，但仍远 低于2024年底的水平。市场对该报告的反应微乎其微。 ...

美国6月密歇根大学消费者信心指数终值 60.7，预期60.5，前值60.5。 ...

智通财经6月27日电，密歇根大学6月份消费者信心指数报60.7，预期为60.5。 ...

Group 1 - The final value of the University of Michigan's Consumer Confidence Index for June is set to be released shortly [1] - The final value of the one-year inflation expectations will also be published in ten minutes [1]