Election uncertainty and inflation have hit US economic growth forecasts, FT reports.

US consumer sentiment has fallen to its lowest level in eight months as inflation and election uncertainty have weakened the country's economic outlook, the Financial Times reports.

The University of Michigan's consumer sentiment index in July was 66.4, the lowest since November. Experts note that high prices continue to worsen the situation of citizens, especially those with low incomes. Managers and experts from large companies confirm the pessimistic state of the market.

For example, Whirlpool is seeing a slowdown in the market, especially among consumers looking to upgrade rather than replace a product with a newer model. UPS shares also fell 12% on expectations of lower demand for its services. Airlines and suppliers have also reported lower demand.

The cooling market could be a positive sign for the nation's financial regulator, as Federal Reserve governors will discuss interest rates that affect the credit market. Analysts suggest that U.S. consumers could start spending more on services, which could cause problems for manufacturers of goods.

The US election campaign is becoming increasingly tense, especially after the assassination attempt on one of the candidates, Donald Trump. Trump has expressed concerns about the possibility of a new world war in the Middle East due to the conflict between Israel and Hamas, as well as Russia's invasion of Ukraine. The politician is sure that if he does not win the election in November, this could lead to World War III.