Consumer sentiment about the U.S. economy has ticked down but remains near a recent high, with Americans’ outlook largely unchanged this year.
New Insider Deals are here, and you’re going to love them!Shoppers leave a Target store in midtown Manhattan in New York on Tuesday, March 19, 2024. On Friday April 12, 2024, the University of Michigan releases its preliminary reading of consumer sentiment for April.
– Consumer sentiment about the U.S. economy has ticked down but remains near a recent high, with Americans' outlook largely unchanged this year., released Friday in a preliminary version, slipped to 77.9 this month, down from March's figure of 79.4. Sentiment is about halfway between its all-time low, reached in June 2022 when inflation peaked, and its pre-pandemic averages.“Consumers are reserving judgment about the economy in light of the upcoming election, which, in the view of many consumers, could have a substantial impact on the trajectory of the economy,” said Joanne Hsu, director of the consumer survey. An increase in gas prices likely contributed to the decline in consumers’ outlook, according to Ian Shepherdson, chief economist at Pantheon Macroeconomics. The average national price of a gallon of gas has jumped about 7% from a month ago, according to AAA, to $3.63 a gallon. Americans' perceptions of future inflation also edged up, probably reflecting still-elevated prices. Consumers expect inflation to be 3.1% a year from now, which would exceed the Federal Reserve's 2% target. Still, that would be below the current level of 3.5%. Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
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US consumer sentiment falls slightly as outlook for inflation worsensConsumer sentiment about the U.S. economy has ticked down but remains near a recent high, with Americans’ outlook largely unchanged this year.
Read more »
US consumer sentiment falls slightly as outlook for inflation worsensConsumer sentiment about the U.S. economy has ticked down but remains near a recent high, with Americans’ outlook largely unchanged this year.
Read more »