University of Michigan survey at all time low as consumers inflation concerns outweigh expected income growth
Consumer sentiment continued its downward trend, falling 14.4% in June, according to the University of Michigan Surveys of Consumers. The June consumer sentiment index reading was an all-time low for the survey, comparable to the trough reached during the 1980 recession.
Consumer sentiment is viewed as a leading indicator of economic activity.
All components of the index fell this month, with the steepest declines in the year-ahead outlook for the economy, down 24% from May, and consumers’ assessments of their personal financial situation, which
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