The IBD/TIPP Economic Optimism Index in the US fell to the lowest since August 2011 38.1 in June of 2022 from 41.2 in the previous month. This follows the record low seen on Friday in the University of Michigan Index of Consumer Sentiment. Consumers report a stunning loss of confidence in June of Consumer Sentiment both reports show. Household financial stress hit the highest level since the outset of the pandemic in April 2020, as gas prices hit new records … Continue reading “Household Financial Stress Highest Since Outset of Pandemic US Economic Optimism Index Shows”
Consumers reported a stunning loss of confidence in June the preliminary University of Michigan Index of Consumer Sentiment showed. The index in June dropped to 50.2 (consensus 59.0) from the final reading of 58.4 for May. The June reading compares to 85.5 in the same period a year ago and is the lowest reading ever on records dating back to 1978. Inflation pressures are seriously undermining consumer sentiment. The losses in confidence were widespread across income, age, and education subgroups … Continue reading “US Consumer Sentiment Crashes to Record Low on Rampant Inflation”
The preliminary August reading for the University of Michigan Index of Consumer Sentiment fell to 70.20 (consensus 81.20) from the final reading of 81.20 for July. This is the lowest reading since 2011, Lower than pandemic lows, as consumers’ inflation expectations rose.
US consumer credit in June expanded 37.69 billion much higher than the estimated 23.0 billion with revolving credit $17.86 billion and nonrevolving credit $19.83 billion with stocks and home prices higher and an improving job market.
The preliminary July reading for the University of Michigan Index of Consumer Sentiment fell to 80.8 (consensus 86.3) from the final reading of 85.5 for June. This is the lowest reading since February as consumer sentiment declined as consumers’ inflation expectations rose.
The University of Michigan’s consumer sentiment preliminary estimate came in at 86.5 the highest reading since March 2020 but lower than expected 89.0. One year inflation expectations are at the highest since 2012 3.7% vs 3.3% expected (3.1% prior)
The Federal Reserve Bank of New York’s March 2021 Survey of Consumer Expectations showed a continuation in the recent upward trend in inflation, home price, and spending growth expectations.Labor market expectations continued to recover with higher expectations about job security and improved unemployment expectations.