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UMich Confidence Data Folds to Record Low

US DATA
  • University of Michigan Confidence (Jun P) M/M 50.2 vs. Exp. 58.1 (Prev. 58.4)
  • Current Conditions 55.4 vs. Exp. 62.9 (Prev. 63.3)
  • Expectations 46.8 vs. Exp. 55.3 (Prev. 55.2)
  • 1 Year Inflation Expectations 5.4% vs. Exp. 5.3% (Prev. 5.3%)
  • 5-10 Year Inflation Expectations 3.3% (Prev. 3.0%)
Highlights from the report:
  • Consumer sentiment declined by 14% from May, reaching lowest recorded value, comparable to the trough reached in the middle of the 1980 recession
  • Consumers' assessments of their personal financial situation worsened about 20%
  • Forty-six percent of consumers attributed their negative views to inflation, up from 38% in May; this share has only been exceeded once since 1981, during the Great Recession.

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