Consumer sentiment increasingly splits along party lines, with partisans of whoever holds the White House far more optimistic.
Fears about a possible recession, as well as still-high prices for food and rent, are making people more cautious in their spending.
The University of Michigan survey shows improvement, especially among low- and middle-income consumers, who have struggled most with inflation.
They've been up and down like a bouncing ball for the past few months.
The University of Michigan's consumer sentiment index is at a 10-year low. But consumer demand and savings remain high.
Higher wages and low unemployment are good news to people. Inflation isn't.
Despite good economic data like GDP growth, many Americans are not optimistic.
University of Michigan data shows inflation is starting to bite more for consumers at the low end of the income spectrum.
Rising prices for staples like food and gas was a key worry for respondents, along with concerns about COVID and political power.
Several indicators suggest that the economy is humming along. But recent surveys show, a growing number of people feel exactly the opposite.