US Consumer Sentiment In February Falls To Its Lowest Level In More Than A Decade

[pipedreams]

"U.S. consumer sentiment in early February unexpectedly declined to its lowest level in more than a decade, due to fears that rising levels of inflation would persist in the near term, according to a survey from the University of Michigan.

The university report, which was released on Feb. 11, saw the consumer sentiment index tumble to 61.7 in February, from 67.2 percent in January, hitting its lowest level since October 2011."

https://www.theepochtimes.com/us-consumer-sentiment-in-february-falls-to-its-lowest-level-in-more-than-a-decade_4272630.html

"Poor government economic policies were cited by 51 percent of respondents, the highest share since 2014."

[gwalchmai]

Yes, and, sadly, my confidence in the University of Michigan is at its lowest point in my lifetime.

[LostinTexas]

Not picking on pipedreams so much, but why do people post links to pages that require a sign in? Not reading pages with AIDS or asking permission to track me.. Sorry.

I believe your take on the report though.

[pipedreams]

6 hours ago, LostinTexas said:

Not picking on pipedreams so much, but why do people post links to pages that require a sign in? Not reading pages with AIDS or asking permission to track me.. Sorry.

I believe your take on the report though.

Sorry about that, didn't realize it required a sign in.

[minervadoe]

Here's a similar article with no pay wall.

https://nypost.com/2022/02/11/consumer-sentiment-falls-to-lowest-level-in-over-a-decade/

Quote

The survey’s gauge of current economic conditions fell to a reading of 68.5, the lowest since August 2011 from 72.0 in January. Its measure of consumer expectations declined to 57.4, the lowest since November 2011, from 64.1 in January.

Quote

The government reported Thursday that consumer prices recorded their largest annual increase in 40 years in January.

 

[railfancwb]

Current administration is trying - and apparently succeeding - in outdoing the Carter Administration’s Misery Index.

The Carter Misery Index brought Ronald Reagan to the White House. 

[GT4494]

I understand that if you use the same data points to calculate inflation that they used in 1980 we are closer to 15% and not the 7%. 

Kinda makers you actually miss Jimmy C..