politics
Consumer sentiment slips to record low: Survey
Key takeaways
- The university s index of consumer sentiment slipped to a final reading of 44.8 in May, a 5-point decrease from April and a 7.4-point drop from this time last year.
- Joanna Hsu, the director of the Surveys of Consumers, pointed to cost-of-living concerns as a primary factor driving the downturn in consumer sentiment.
- Lower-income consumers and those without college degrees posted particularly strong sentiment declines; these groups are more sensitive to increases in the cost of gas and other essentials, Hsu said in a statement.
Why this matters: political developments that affect policy direction and public trust.
The university s index of consumer sentiment slipped to a final reading of 44.8 in May, a 5-point decrease from April and a 7.4-point drop from this time last year.
Joanna Hsu, the director of the Surveys of Consumers, pointed to cost-of-living concerns as a primary factor driving the downturn in consumer sentiment. She added that 57 percent of consumers spontaneously mentioned higher prices were eroding their personal finances.
Lower-income consumers and those without college degrees posted particularly strong sentiment declines; these groups are more sensitive to increases in the cost of gas and other essentials, Hsu said in a statement.
Article preview — originally published by The Hill. Full story at the source.
Read full story on The Hill →
More top stories
Also covered by
Aggregated and edited by the Scoop newsroom. We surface news from The Hill alongside other reporting so you can compare coverage in one place.
Editorial policy · Corrections · About Scoop