US sentiment remains dim, with consumers facing higher prices and weaker incomes
US consumer sentiment deteriorated slightly in November as Americans fretted about high prices, weaker incomes, and mounting layoffs, nearing record lows.
That’s according to the University of Michigan’s final reading of its survey of consumers. Preliminary data released earlier this month showed plunging sentiment for November, with overall sentiment hitting 50.3 amid concerns about the effect of the government shutdown on the economy.
Sentiment improved a bit after the shutdown ended Nov. 12, reaching a level of 51 — lower than October’s 53.6 and down 29% from one year ago.
Still, that didn’t totally quiet consumers’ anxiety. For one, the government’s funding agreement only lasts until the end of January. In the meantime, Americans are facing the prospect of spiking health insurance premiums, an unemployment rate that’s above where it was a year ago, and stubborn inflation.
https://finance.yahoo.com/news/us-sentiment-remains-dim-with-consumers-facing-higher-prices-and-weaker-incomes-152731499.html