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>20% of US are canceling their summer vacations due to inflation, and nearly 50% are making other budget cuts to make ends meet, per FORTUNE.
>"Sales are lighter, and customer orders are coming in under forecasts. It seems consumers are starting to pull back on spending," per Axios.
>33% of US households are also spending less on outdoor dining and entertainment such as concerts, events, and paying for streaming services to be able afford their AC, per FORTUNE.
>34% of parents said they plan to take on debt to afford back to school supplies this year, and 16% said they plan to take on up to $1,000 in debt, per Credit Karma.
>33% of American households are cutting back on groceries to help pay for their utility bills like AC as 75% of them expect their expenses to increase during the summer and “cause them financial strain," per FORTUNE. "While many consumers are cutting back on electricity usage because they simply can’t afford the growing bills, they still might end up paying more than the year before," per NYP.
>Average consumer now carries $6,329 in credit card debt, per CNBC. Both the New York Fed and TransUnion have observed higher credit card delinquency rates. Approximately 9.1% of credit card balances turned delinquent over the past year, according to the New York Fed.
>A labor strike that would shut down six out of 10 of the busiest ports in the US just weeks before the presidential election is looking increasingly likely, per Bloomberg.
Uhm bros, 2025 is looking pretty fucking ugly right now
