According to new data released this week from the Bureau of Economic Analysis, U.S. consumer spending ticked up by 0.1 percent in July—which marks a slowdown from the previous month when the indicator jumped by one percent. The deceleration of consumer spending however, comes as households face persistently high inflation and rising interest rates. And, on a similar note, the monthly Survey of Consumers by the University of Michigan reveals final consumer sentiment readings for August increased by 6.7 points compared to July. Much of that jump is related to improved views about the future of the economy. Following two months where the “year-ahead outlook” was at it lowest reading since the Great Recession, the indicator surged by 59 percent this month. That said however, overall consumer sentiment is still well below pre-pandemic levels.