“While the majority judged current conditions in the economy favorably and consumers anticipated continued growth on balance, consumers judged the outlook less satisfactory, and were equally divided about whether the expansion would last another five years,” Richard Curtin, director of the University of Michigan consumer survey, said in a statement.
U.S. Consumer Sentiment Unexpectedly Drops Amid Price Concerns
Consumer sentiment in U.S. unexpectedly fell by the most in a year amid expectations that inflation and interest rates will rise, according to a University of Michigan report Friday. Sentiment index dropped to 97.8 (est. 100.8) from 100.7. Current conditions gauge, which measures Americans’ perceptions of their finances, fell to 113.6 from 116.5. Expectations measure decreased to 87.6 from 90.5.
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