Consumer Sentiment Hits Seven-Month Low, Inflation Expectations Worsen
U.S. consumer sentiment fell to a seven-month low in June, as long-run inflation expectations rose, adding to signs of financial stress seen among lower-income households reeling from high prices.
The University of Michigan consumer sentiment index declined to 65.6 in June, from 69.1 a month earlier, data released Friday morning showed. That's less than the 72 expected by Wall Street, according to Benzinga. Long-run inflation expectations inched up to 3.1% this month, from 3% in May, staying well above the 2.2%-2.6% range seen in the two years before the global pandemic hit, data showed.
"Assessments of personal finances dipped, due to modestly rising concerns over high prices as well as weakening incomes," Joanne Hsu, University of Michigan surveys of consumers director, said in the report. "Overall, consumers perceive few changes in the economy from May."
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Luzi Ann Santos
Moomoo Senior News and Community Manager
Former editor at Bloomberg, ex-commentary editor at Lazard. Posts aren’t investment advice. Views are just mine.
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PAUL BIN ANTHONY : very good in the world
SanjBot : So interesting to note, some markets in EU and Canada decreasing rates. US and Australia on hold, Australia thinking about increasing rates again.
poem_view : A problem that can be solved by printing money should not be a problem.