Author Topic: Consumer sentiment hits record low  (Read 160 times)

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Offline Ptarmigan

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Consumer sentiment hits record low
« on: June 26, 2022, 09:34:58 PM »
Consumer sentiment hits record low

U.S. consumer confidence tanked in early June, reaching the lowest level ever recorded as soaring inflation batters Americans' budgets and fuels concerns for the economy at large.

The University of Michigan's consumer sentiment index released Friday shows the index plunged to 50 this month, a 14.4% drop from May and the lowest reading since the survey began in the late 1970s.

The survey indicated declines in every component, reflecting a bleak vision from respondents: The year-ahead outlook tumbled 24%, while Americans' assessments of their personal financial situations worsened by 20%.

The consumer sentiment index has reached an all time low.
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