U.S. Consumer Sentiment Plunges To Lowest Level In Over Two Years

RTTNews | vor 173 Tagen
U.S. Consumer Sentiment Plunges To Lowest Level In Over Two Years

(RTTNews) - Largely reflecting a substantial deterioration in consumer expectations, the University of Michigan released a report on Friday showing a much steeper than expected drop by its reading on U.S. consumer sentiment in the month of March.

The University of Michigan said its consumer sentiment index plunged to 57.9 in March after tumbling to 64.7 in February. Economists had expected the index to dip to 63.1.

The consumer sentiment index decreased for the third consecutive month, slumping to its lowest level since hitting 56.7 in November 2022.

"While current economic conditions were little changed, expectations for the future deteriorated across multiple facets of the economy, including personal finances, labor markets, inflation, business conditions, and stock markets," said Surveys of Consumers Director Joanne Hsu.

She added, "Many consumers cited the high level of uncertainty around policy and other economic factors; frequent gyrations in economic policies make it very difficult for consumers to plan for the future, regardless of one's policy preferences."

The sharp drop by the headline index came as the index of consumer expectations dove to 54.2 in March from 64.0 in February, hitting its lowest level since July 2022.

The report showed a more modest decrease by the current economic conditions index, which fell to 63.5 in March from 65.7 in February.

On the inflation front, the University of Michigan said year-ahead inflation expectations jumped to 4.9 percent in March from 4.3 percent in February, reaching the highest reading since November 2022.

Long-run inflation expectations also surged to 3.9 percent in March from 3.5 percent in February, reflecting the largest month-over-month increase seen since 1993.

read more
U.S. Job Openings Fall To Ten-Month Low In July

U.S. Job Openings Fall To Ten-Month Low In July

Job openings in the U.S. fell to their lowest level in ten months in July, according to a report released by the Labor Department on Wednesday. The Labor Department said job openings dipped to 7.181 million in July after tumbling to a downwardly revised 7.357 million in June.
RTTNews | vor 2Std 48 Minuten
U.S. Factory Orders Slump Roughly In Line With Estimates In July

U.S. Factory Orders Slump Roughly In Line With Estimates In July

A report released by the Commerce Department on Wednesday showed an extended slump by new orders for U.S. manufactured goods in the month of July. The Commerce Department said factory orders fell by 1.3 percent in July after plunging by 4.8 percent in June. Economists had expected factory orders to decrease by 1.4 percent.
RTTNews | vor 3Std 55 Minuten
U.S. Construction Spending Unexpectedly Edges Lower In July

U.S. Construction Spending Unexpectedly Edges Lower In July

A report released by the Commerce Department on Tuesday showed construction spending in the U.S. unexpectedly edged slightly lower in the month of July. The Commerce Department said construction spending slipped by 0.1 percent to an annual rate of $2.139 trillion in July after falling by 0.4 to a revised rate of $2.141 trillion in June.
RTTNews | vor 1 Tagen
Chicago Business Barometer Slumps Much More Than Expected In August

Chicago Business Barometer Slumps Much More Than Expected In August

MNI Indicators released a report on Friday showing a sharp pullback by its reading on Chicago-area business activity in the month of August. The report said the Chicago business barometer tumbled to 41.5 in August after jumping to 47.1 in July, with a reading below 50 indicating contraction. Economists had expected the business barometer to edge down to 46.0.
RTTNews | vor 5 Tagen
U.S. Consumer Prices Increase In Line With Estimates In July

U.S. Consumer Prices Increase In Line With Estimates In July

Consumer prices in the U.S. increased in line with economist estimates in the month of July, according to closely watched data released by the Commerce Department on Friday. The Commerce Department said its personal consumption expenditures (PCE) price index rose by 0.2 percent in July after climbing 0.3 percent in June. The uptick matched expectations.
RTTNews | vor 5 Tagen