Construction sentiment expected to show while conditions are good, rising costs, higher input prices and inventories affecting homebuilders
, staying at subdued levels amid concerns over inflation and a coming economic recession. The preliminary estimate of the consumer sentiment index published Friday by the University of Michigan increased to 51.1 in July from 50.0 in June, hovering near its all-time low.
People shop at a grocery store on May 12, 2022 in New York City. Prices of clothing, food, gas and cars are just a few of the items that are hitting Americans' pocketbooks despite historically low unemployment. Giving hope to economists, some key infWith more than two-thirds of U.S. economic activity tied to household spending, recessions typically are accompanied by a pullback by consumers. Yet the Commerce Department reported thatfrom the prior month, after declining in May.
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