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Consumer Cos Up as Energy Prices Slide — Consumer Roundup

Retailers and other consumer companies recouped some of their recent losses, amid hopes that inflation had peaked.

Energy, food and industrial commodities -- the areas where inflation concerns first surfaced in early 2022 -- have retreated steadily in recent weeks, and tumbled on Tuesday.

Consumers' inflation expectations are at their highest level in 23 years, according to a survey from brokerage Goldman Sachs Group.

Services activity rebounded in China as major cities lifted Covid 19 restrictions in June.

The Caixin services purchasing managers index rose to 54.5 in June from 41.1 in May, Caixin Media and research company S&P Global said. That marked the quickest expansion recorded since July 2021.

Scandinavian airline SAS filed for bankruptcy protection in the U.S., saying a move by about 1,000 of its pilots to go on strike would worsen its already fraught finances, as the chaotic re-emergence of the airline industry from the pandemic claimed its first major victim.

 

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

July 05, 2022 17:04 ET (21:04 GMT)

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