Reported about 1 year ago
The University of Michigan's latest consumer sentiment survey revealed a decline to the lowest level in seven months in June, with the index reading at 65.6, down from 69.1 in May. Americans expressed concerns about high prices and weakening incomes, contributing to the sentiment drop despite the overall resilient growth in the US economy. Year-ahead inflation expectations remained at 3.3%, with consumers feeling the burden of higher interest rates and consumer prices. Despite recent positive inflation readings, consumer sentiment continues to be impacted by the ongoing economic challenges.
Source: YAHOO