Businesses warn of lran war denting consumer sentiment

Major companies on Thursday warned that consumers globally will start pulling back on purchases, challenging the narrative of resilient spending despite the Iran war.

Whirlpool pointed to a “recession-level industry decline,” caused in part by shoppers pulling back on big-ticket buys.

Although fast food sales rose, McDonald’s warned of consumer “anxiety” as high gas prices dent sentiment.

Kraft Heinz’s CEO said people “are literally running out of money.”

Price pressures aren’t just hitting at the pump.

Lufthansa plans to raise airfares to offset higher jet fuel costs.

Still, there are conflicting signals on the war’s impact on consumer confidence. Disney and Uber this week said Americans are still spending on rides and resorts.