(Bloomberg) — U.S. consumer sentiment fell in early August to the lowest level in nearly a decade as Americans grew more concerned about the economy’s prospects, inflation and the recent surge in coronavirus cases.
The University of Michigan’s preliminary sentiment index fell by 11 points to 70.2, the lowest since December 2011, data released Friday showed. The figure fell well short of all estimates in a Bloomberg survey of economists.
The slump in confidence risks a more pronounced slowing in economic growth in coming months should consumers rein in spending. The recent deterioration in sentiment highlights how rising prices and concerns about the delta variant’s potential impact on the economy are weighing on Americans.
www.investing.com/news/economy/consumer-sentiment-in-us-plunges-to-lowest-since-2011-2589476
- Stanford business study shows bank values are actually $2trillion lower than book value
- Fifty More US Banks on the Verge of Failing
- Putin Announces Agreement for the Yuan to Become the New Global Reserve Currency
- Incredibly Good Article in The Economist About the Banking Crisis
- Are They Actually Trying To Crash The Economy On Purpose?
- UBS may bail out of the Credit Suisse deal, too many issues.
- UKRAINE WAR ENDING?
- To the moon! The interest payments of the US Government as old debt is rolled into new one.
- The UN Moves to Take Control of ALL Water
- Elon Musk responds to Biden’s bullshit nationalization of land in Texas
Views: 0