U.S. Consumer Sentiment Deteriorates More Than Previously Estimated In January

RTTNews | 189 ngày trước
U.S. Consumer Sentiment Deteriorates More Than Previously Estimated In January

(RTTNews) - Revised data released by the University of Michigan on Friday showed consumer sentiment in the U.S. unexpectedly deteriorated by more than previously estimated in the month of January.

The University of Michigan said its consumer sentiment index for January was downwardly revised to 71.1 from the preliminary reading of 73.2. Economists had expected the index to be unrevised.

The consumer sentiment index is down from the final December reading of 74.0, marking the first decrease in six months.

"While assessments of personal finances inched up for the fifth consecutive month, all other index components pulled back," said Surveys of Consumers Director Joanne Hsu. "Indeed, sentiment declines were broad based and seen across incomes, wealth, and age groups."

She added, "January's data closed on Inauguration Day, and consumers of all political leanings will continue to refine their views as Trump's policies are clarified and implemented."

The bigger than previously estimated decrease by the headline index partly reflected a notable deterioration by consumer expectations.

The index of consumer expectations slumped to 69.3 in January from 73.3 in December, tumbling to its lowest level since last July.

The current economic conditions index showed a more modest decrease, edging down to 74.0 in January after surging to 75.1 in December.

The report also said year-ahead inflation expectations soared to 3.3 percent in January from 2.8 percent in December, reaching the highest level since May 2024.

Long-run inflation expectations also jumped to 3.2 percent in January from 3.0 percent in December.

"Concerns over the future trajectory of inflation were visible throughout the interviews and were tied to beliefs about anticipated policies like tariffs," said Hsu.

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