The latest consumer survey from the University of Michigan shows that sentiment dropped for the fourth straight month.
In one poll, 44% of respondents say they’re stressed about the economy. Meanwhile, 34% say they’re optimistic.
Households feel their finances have been improving, the New York Fed says. But Americans appear to be racking up more credit card debt.
We asked content creator and independent economics educator Kyla Scanlon if consumer sentiment is finally matching up with economic data.
The University of Michigan's consumer sentiment index is up 40% over last year, aided by moderating inflation and job market strength.
Tracking how shoppers feel is important — consumer spending makes up a whopping 70% of GDP.
People in that age group have less time left to earn or save money for retirement and have had more time to accrue debt.
It all depends on the questions pollsters ask. "How are you doing?" will elicit a different answer than "How do you feel about inflation?"
Consumer sentiment's been up and down lately.