What: Visa reports that US customers are increasingly concerned about the future, especially due to inflation and rising prices.

Why it is important:  The US boon for European retailers might not last much longer now that American customers start to feel the inflationary pinch. Their impatience to see Chinese customer is therefore growing.

In April, the Conference Board Consumer Confidence Index dropped to 101.3, with the future expectations component falling to 68.1, reflecting increased concerns over a potential recession and recent turmoil in the banking system.

The present situation component, however, increased by 2.2 points, indicating a strong view of current conditions. Consumers' median inflation expectations for the next 12 months remained elevated at 6.2%, but they expect prices to moderate.

Purchase intentions for homes, autos, major appliances, and vacations softened, suggesting that consumers may be cutting back in preparation for slower economic growth.

American consumers are increasingly pessimistic