Sentiment was down on renewed concerns about the trajectory of the economy, erasing nearly half of the gains achieved since the all-time historic low from last June.
Consumers’ worries about the outlook of the economy in both the short and long run worsened considerably given the negative news about the economy, including the debt ceiling debate in the U.S. Congress. With the persistence of high prices, consumers’ assessments of their personal finances were little changed from last month, said University of Michigan economist Joanne Hsu, director of the Surveys of Consumers.
The Consumer Sentiment Index fell to 59.2 in the
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