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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.
It may be hard to tell from some data out Friday, which is for February. But we may still get a read on whether consumer sentiment is changing.
Consumer sentiment isn’t as gloomy as the failure of Silicon Valley Bank might lead you to expect.
Data released this week shows there’s a disconnect between what people say and what they do.
Higher interest rates and inflation still spark anxiety. But wages have grown, and some have a greater feeling of financial security.
The University of Michigan’s sentiment survey rose 9% in January, though it’s still near decade-lows.