Consumer Sentiment Hits Rougher Patch in August Amid Renewed Focus on Tariffs
- Consumer sentiment decreased 5% month over month to a reading of 58.6, according to a long-running survey from the University of Michigan.
- Joanne Hsu noted that worries about rising prices are impacting consumer views, specifically concerning durable goods.
- Tariff rates increased significantly from about 2.4% to 18.6%, leading to an estimated $2,400 financial hit for the average American household this year.
- Over 60% of consumers expect the job market to worsen in the coming year, contributing to concerns about economic stability.
15 Articles
15 Articles
US Consumer Sentiment Falls on Deteriorating Inflation, Labor Outlook
U.S. consumer sentiment unexpectedly softened in August, as the public anticipates inflation and unemployment to worsen in the future, according to new data from the University of Michigan Surveys of Consumers, released on Aug. 15. The preliminary August consumer sentiment index fell to 58.6, down from a final reading of 61.7 in July. This came in below the consensus forecast of 62 and represented the first decline in four months. The index for …
US Consumer Sentiment Falls on Deteriorating Inflation, Labor Outlook - The Thinking Conservative
U.S. consumer sentiment unexpectedly softened in August, as the public anticipates inflation and unemployment to worsen in the future. The post US Consumer Sentiment Falls on Deteriorating Inflation, Labor Outlook appeared first on The Thinking Conservative.
Consumer Sentiment Declines Amid New Tariffs in August - Get World Wide Update with Hourly Prime News
The month of August has marked a significant shift in the economic landscape, with consumer confidence taking a notable hit amidst the introduction of sweeping new tariffs. As tariffs continue to shape the trade environment, their impact on everyday consumers has become more palpable, manifesting in diminished optimism and cautious spending habits. This article explores the reasons behind this decline, the implications for the economy, and how c…
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