Consumer sentiment sinks to height of COVID-19 levels Consumers in the United States work face-to-face and are as worried about the epidemic as they were during the Dark Day of the blockade a year ago and the daily briefing of Covid-1.
Consumer sentiment at the University of Michigan, considered one of the latest economic assessments, showed the biggest decline in a year, described by researchers as “amazing loss of self-confidence,” at other times in the past. Was about two minuses.
Consumer sentiment sinks to height of COVID-19 levels Measures since July have decreased by 13.5% from 71.8 in April 2020, when the COVID-19 blockade and headlines affected daily life. Another time when things got worse was during the Great Depression of 2008.
Food inflation is quite different from what we’ve seen before
“In addition, losses cover all aspects of the economy, from personal finances to economic outlooks, including inflation and unemployment. The epidemic revival by the Delta variant is combined with a mix of logic and emotion. There is no doubt about that. ” Chief Consumer Economist Richard Curtin said Americans are afraid that the economy will “decline” in the coming months.
“The blockade is the biggest threat to the economy,” Brian Wesbury, chief economist at First Trust Advisors, warned while appearing on the Fox Business Network.
After reading do-in-the-dump, two consecutive inflation reports show that costs are rising overall. Annual Profit The consumer price index rise in July has risen 5.4% since 2008, and the producer price index has risen a record high of 7.8%.