US: Michigan consumer confidence falls to lowest level since 2011 | news

news-container">

MICHIGAN (dpa-AFX) – US consumer sentiment deteriorated more than expected in May. The consumer climate surveyed by the University of Michigan fell by 6.8 points to 58.4 points compared to the previous month, as the university announced on Friday after a second round of surveys. This is the lowest level since 2011. On average, economists had expected a confirmation of the initial estimate of 59.1 points.

Household expectations and assessments of the current situation deteriorated noticeably. Consumer inflation expectations remained high. They expect an inflation rate of 5.3 percent over a one-year horizon.

“This recent decline is largely due to continued negative views on current purchasing conditions for homes and durable goods,” commented Joanne Hsu, director of the survey. High inflation is dampening expectations of economic development.

The indicator from the University of Michigan is a measure of the purchasing behavior of US consumers. It is based on a telephone survey of around 500 households. The financial and economic situation assessment and the corresponding expectations are queried./jsl//he

See also  Lies and truths in the Imamoglu case

Share:

Facebook
Twitter
LinkedIn

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

On Key

Related Posts