Sentiment at lowest record value since 1980 recession.
According to the University of Michigan Surveys of Consumers, consumer sentiment continued its downward trend in early June on consumers’ concerns over their financial situation. According to preliminary June results released on Friday, June 10, the Consumer Sentiment Index declined to 50.2 in June, down by 14% from May and down 41.3% from June 2021.
The preliminary June result has the index reaching its lowest recorded value, comparable to the trough reached in the middle of the 1980 recession.
“All components of the sentiment index fell this month, with the steepest decline