U.S. consumer sentiment falls to all-time record low

U.S. consumer sentiment deteriorated in June to the lowest level ever recorded due to rampant inflation and dim prospects for the American economy.

Xavier Fontdegloria for MarketWatch:

The final estimate of the consumer sentiment index published Friday by the University of Michigan came in at 50.0 in June, down from 58.4 in May.
The reading marks the lowest point since the inception of the survey in the late 1940s.
Inflation continued to be of paramount concern to consumers, with 47% of those polled blaming high price growth for eroding their living standards, said Joanne Hsu, the survey’s director.
The index measuring Americans’ assessment of the current economic conditions decreased to 53.8 in June from 63.3 in May, below the preliminary early-month reading of 55.4.
The index of consumer expectations, which reflects the balance of respondents anticipating improved business conditions in the next six months, declined to 47.5 from 55.2 the previous month.
Consumers across income, age, education, geographic region, political affiliation, stockholding and homeownership status all posted large declines, Ms. Hsu said. About 79% of consumers expected bad times in the year ahead for business conditions…

MacDailyNews Take: Good times!
Gunshow panels by KC Green, 2013
Please help support MacDailyNews. Click or tap here to support our independent tech blog. Thank you!
Shop The Apple Store at Amazon.

The post U.S. consumer sentiment falls to all-time record low appeared first on MacDailyNews.