University of Michigan survey remains at lows recorded during last year’s government shutdowns. After returning a slight increase in September, consumer sentiment returned to its declining trend in preliminary October results. The survey’s chief economist is now raising concerns about what the declines hold for consumer spending next year. Consumer sentiment is viewed as a […]
Consumer Sentiment Up Slightly in September
University of Michigan survey shows consumer sentiment improved compared to August but down substantially compared to last year. The steep August falloff in consumer sentiment ended in early September, but the small gain still meant that consumers expected the least favorable economic prospects in more than a decade. The Index of Consumer Sentiment stood at […]
Consumer Sentiment Plunged in August Due to Inflation, Pandemic Concerns, Emotions
Index falls below last year’s low when the pandemic first hit. Consumer sentiment fell in August by 13.4% from July after respondents reported the least favorable economic prospects in more than a decade, according to the University of Michigan Surveys of Consumers. The Consumer Sentiment Index fell to 70.3 in August 2021, sharply below the […]
Consumer Sentiment Declines on Fears of Resurgence in Pandemic
Preliminary results for month from University of Michigan survey show dramatic decline in consumer views on the economy. The University of Michigan Index of Consumer Sentiment in mid-August was 70.2, down 13.5% from July and down 5.3% from August 2020 and critically below April 2020 at the start of the pandemic. Consumer sentiment is a […]
Consumer Sentiment Declines on Concerns Over Slowdown in Economy Amid Rising COVID Risks
Concerns over inflation at highest levels in more than 50 years. Consumer sentiment fell in July, posting a monthly decline of 5.0% from June, falling to the lowest level since February, according to the University of Michigan Surveys of Consumers. The Consumer Sentiment Index fell to 81.2 in July 2021 from June’s 85.5, and the […]
Consumer Sentiment Index Declines in May on Inflation Concerns
Record concerns about rising prices weigh on index. A falloff in consumer confidence in May is due to surging inflation that consumers anticipate will persist in the year ahead, according to the University of Michigan Surveys of Consumers. The Consumer Sentiment Index fell to 82.9 in the May 2021 survey from 88.3 in April, although […]
Preliminary Consumer Sentiment Results Up Sharply in Early March
The Index of Consumer Sentiment is up over 8% compared to February in preliminary report. The University of Michigan Index of Consumer Sentiment rose in early March to its highest level in a year due to the growing number of vaccinations as well as the widely anticipated passage of the Biden Administration’s relief measures. The […]
Consumer Sentiment Declined in February
Improved job prospects top concern of consumers. The relatively small recent loss in consumer confidence in February was concentrated among households with below median incomes, and focused on future economic prospects, according to the University of Michigan Surveys of Consumers. The worst of the pandemic may be nearing its end, but few consumers anticipate the […]
Consumer Sentiment Posts Decline in January
Preliminary Results from University of Michigan surveys showed relatively small declines in sentiment given resurgence in pandemic and political unrest. The University of Michigan Index of Consumer Sentiment declined in January compared to December and January last year based upon preliminary results for the month. The Index of Consumer Sentiment stood at 79.2, a decline […]
Consumer Sentiment Up Slightly in October
Election and COVID-19 resurgence weigh on consumers in University of Michigan survey. Consumer sentiment remained largely unchanged in October with gains in the prospects for the overall economy offset by declines in buying attitudes, according to the University of Michigan Surveys of Consumers. The expected improvements in the economy were largely driven by those who […]