Education Headlines

Consumer sentiment drops this fall as Americans feel worse about the economy

  • 📰 axios
  • ⏱ Reading Time:
  • 32 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 63%

Education Education Headlines News

Education Education Latest News,Education Education Headlines

The preliminary October University of Michigan consumer sentiment survey showed a steep falloff in views about the economy.

The falloff was driven by drops in both survey respondents' assessment of current economic conditions and their expectations for the future.

Perhaps most worrying, survey respondents' expectations for inflation over the next year soared, to 3.8% from 3.2% in September. Long-run inflation expectations edged up to 3%, from 2.8%.in late summer and a recent bumpy ride on Wall Street that has sent interest rates soaring. Consumer sentiment was even lower for much of 2022, when inflation was at modern highs, but remains far below the levels that were the norm in the 2010s.

In fact, if you go back before the current inflationary episode, the last time sentiment fell below current levels was in 2011, when there was a debt ceiling showdown.Share on linkedin

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 302. in EDUCATİON

Education Education Latest News, Education Education Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

US UoM Consumer Confidence Index declines to 63 in October vs. 67.4 expectedConsumer sentiment in the US continued to weaken in October, with the University of Michigan's (UoM) Consumer Confidence Index declining to 63 from 68
Source: FXStreetNews - 🏆 14. / 72 Read more »