Oil price hikes
Everybody knows how oil price hikes could cause a ripple effect on almost everything in the market. When it happens, consumers simply lose their purchasing power, which might lead to a decline in demand.
Loss of consumer confidence
When consumers aren’t confident in the economy, they might alter their spending habits, which ultimately reduces the demand for goods and services.
Worsening unemployment rate
A worsening unemployment rate is a clear sign of impending economic depression. As unemployment rises, consumers might lose their purchasing power, which might lead to lower demand.
