Published on 10 May 2024 on Benzinga via Yahoo Finance
Consumer Sentiment Falls In May, Inflation Expectations Strongly Exceed Fed's 2% Goal: 'They Now...
Consumer Sentiment Falls In May, Inflation Expectations Strongly Exceed Fed's 2% Goal: 'They Now Perceive Negative Developments'
The latest University of Michigan report shows a troubling drop in U.S. consumer confidence, signaling potential weakness in household finances alongside a worrying increase in consumer inflation expectations.
“Consumer sentiment retreated about 13% this May following three consecutive months of very little change. This 10 index-point decline is statistically significant and brings sentiment to its lowest reading in about six months,” Surveys of Consumers Director Joanne Hsu, said.