Declining fears over inflation lifted American consumers’ spirits this month. U.S. consumer sentiment reading rebounded in June following a decline in May, after concerns over the debt-ceiling crisis faded and investor were buoyed by a strong labor market and stock market gains due to artificial intelligence (AI). Consumers’ near-term inflation expectations dropped to more than…
US Consumer Sentiment Jumps to Four-Month High on Debt-Cap Deal
June 16, 2023
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US Consumer Sentiment Improves in January, but Two-Thirds Think the Economy Will Get Much Worse by 2024
American consumer sentiment improved this month, but two-thirds believe that the economy will get much worse by next year due to signs of a pending recession, according to a recent study. The University of Michigan’s closely watched Consumer Sentiment Index measured 64.9 for this month, up from the preliminary 64.6 reading, according to data released…
American Consumer Sentiment Plunges While Inflation Expectations Rise
November 12, 2022
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Consumer sentiment fell last month while expectations of inflation among the general populace rose, according to a University of Michigan survey that is closely followed by the Federal Reserve. The Index of Consumer Sentiment came in at 54.7 in November, down 8.7 percent from 59.9 in October, data from the surveys of consumers conducted by…
Consumer Confidence Slips to 11-Year Low Amid Elevated Inflation
U.S. consumer confidence fell for the month of May as Americans deal with high inflation rates, according to the latest data from the University of Michigan’s survey of consumer sentiment. The index of consumer sentiment fell to 59.1 in May, down 9.4 percent from the previous month’s index value of 65.2, according to the preliminary…
Risk of Interest Rate Rises Intensifies Worries Among Mortgage Holders
The expectation of upcoming hikes in interest rates has caused confidence to fall significantly among households having a mortgage in recent months. The Westpac-Melbourne Institute consumer sentiment index dropped 0.9 percent to 95.8 points in April, reaching the lowest level since September 2020, when fears of the COVID-19 pandemic were dominating. An index below 100…
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