UMich Consumer Sentiment Slips As Business Expectations Collapse To 11-Month Lows

It appears the US Consumer is losing faith. August preliminary UMich Consumer Sentiment slipped from July's 93.1 and missed expectations. This is the 2nd weakest print since November. Longer-term inflation expectations fell back to 2.7% and expectations for household income growth slipped to just 1.6%, but the collapse in business expectations to 11-month lows is the most crucial aspect.

The headline was weak...

But hope is fading fast...

Charts: Bloomberg

Comments

[B2u]

but how about those Detroit Lions

[NoWayJose]

But 1.6% income growth in a 2.7% inflation world implies a permanent loss of 1.1% spending power. That is more significant to me than business expectations, which measure only hopium, and can be easily reversed.

In fact, a decade of this under reporting of inflation, combined with stagnant wages, is why we are in trouble today.

[CHC]

The U.S. consumer is "losing faith".  That's a freaking understatement.

[madbraz]

don't call this UMich consumer sentiment - this is all Reuters now.  Treat it as such - fabricated and worthless.

[buzzsaw99]

brought to you by carl's jr. [/the secretary of state, brought to you by carl's jr.]

[Mike Honcho]

Still trending a climb upwards, everyting be just fine!

[847328_3527]

"They're just not ambitious enough."

~ Jack Ma

[Mike Honcho]

Quit being poor, buy assets. - Yhellin.