5 economic signals suggest U.S. consumers are feeling the strain

TL;DR

Consumer spending, which drives 70% of the U.S. economy, is showing signs of strain amid high inflation.
Real after-tax household income has fallen over the past year, a drop not seen since the Great Recession, excluding pandemic-era distortions.
Credit card delinquencies are at their highest level since 2011, indicating increased difficulty in meeting financial obligations.
The personal savings rate has fallen to a 22-year low, with tax refunds providing temporary relief that is expected to run out.
More Americans are borrowing from or making hardship withdrawals from their 401(k)s due to financial difficulties.
Lower- and middle-income households are reducing gas consumption, and some retailers are observing a decrease in fuel purchases per customer.

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