Reported about 1 year ago
US consumer sentiment unexpectedly dropped to a seven-month low in early June, reaching 65.6 from 69.1, lower than the expected rise to 72, according to the University of Michigan. Consumers anticipate a 3.1% annual price increase over the next five to 10 years, and a 3.3% rise over the next year. Concerns about personal finances and economic conditions contributed to the decline along with a softening labor market, with the unemployment rate at 4%, the highest in over two years. This decrease in sentiment may lead to restrained consumer demand in the upcoming months.
Source: YAHOO