By Nick Lung      Photo：Karolina Grabowska

Retail purchases have fallen in three of the past four months, and even spending on services, which soared last year, was flat in December. The wobbly consumer spending data marked a stark shift in spending for much of the pandemic, when spending trends helped the country avoid a prolonged slump, The Wall Street Journal reported.

Now, the forces that helped keep spending high are fading, while inflation remains stubbornly high.

The share of monthly income Americans save is slipping, while credit card interest rates are rising. The recent trend of layoffs and soaring inflation last year have many Americans concerned. Trucking companies are seeing the impact as large and bulky shipments fall and retail customers continue to cut inventory and delay replenishment.

The bankruptcy of Silicon Valley Bank in the United States caused panic, and the U.S. government immediately rescued it, emphasizing that the deposits of all depositors will be guaranteed, and the storm is expected to come to an end for the time being. Some experts warn that the possibility of a short-term debt crisis in the United States is rising. This is the biggest black swan this year, and the next financial storm may be brewing. There have been cases of default on the US debt problem in the past, and whether it will worsen this year has aroused great concern from the outside world.

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