Mmastodon BusinessEconomy first seen 1 d ago, last 8 h ago, peak #1

US consumer sentiment near record low in September

Original: Consumer sentiment🚨dropped in Sept close to the lowest level ever recorded in the 74-yr history of the Univ of MI's mont

The University of Michigan's monthly consumer sentiment survey showed a sharp drop in September, coming close to the lowest reading in the 78-year-old index's history, according to data released Friday. Analysts attribute the slump to persistent inflation squeezing household budgets and an oil supply shock weighing on expectations.

Why now: Fresh data showing sentiment near a historic low signals growing economic anxiety among American consumers.

University of MichiganUS consumers

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Evidence

• Consumer sentiment🚨dropped in Sept close to the lowest level ever recorded in the 74-yr history of the Univ of MI's monthly survey, fresh data on Fri showed. Shopper🚨attitudes soured as a monthlong bout of inflation squeezed consumers & an underlying # oil supply shock showed… · KimPerales@toad.social · 17

API: https://socialmediatrends-api.osmike.com/v1/trends/269880