Sad Woman walking in park with autumn leaves on background Americans are not feeling all that merry going into the holiday season.
Consumers expect the economy to weaken and see recent declines in inflation as only temporary, a key survey from the University of Michigan showed Wednesday.
The University of Michigan’s sentiment of consumer sentiment fell from 63.8 in October to 61.3 in November. A preliminary reading released mid-month showed a steeper decline to 60.4. Economists had forecast a score of 61.1.
Views of both current and expected conditions declined in the month, with expected business conditions dragging down the index despite some improvement in views of personal finances.“More-favorable current assessments and expectations of personal finances were offset by a notable deterioration in expected business conditions. In particular, long-run business conditions plunged by 15% to its lowest since July 2022,” Survey of Consumers Director Joanne Hsu said.The Thanksgiving blues are weighing on […]
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