Consumer Sentiment Sinks to Ten Year Low in January

Inflation and concerns about weakened economy drove index down nearly 5% month-on-month and nearly 15% year-on-year.

Consumer sentiment fell throughout January, posting a cumulative loss of 4.8%, sinking to its lowest level since November 2011, according to the University of Michigan Surveys of Consumers.

The Consumer Sentiment Index fell to 67.2 in the January 2022 survey, down from 70.6 in December and 14.9% below last January’s 79.0. The Expectations Index fell to 64.1 in January, down slightly from last month’s 68.3 and well below last year’s 74.0. The Current Conditions Index fell to 72.0, down from last month’s 74.2, and