Having fallen and missed the last two months, UMich Consumer Sentiment plunged in September's preliminary data from 91.9 to 85.7 (dramatically missing the 91.1 expectations) crashing to its lowest in a year. This is the biggest miss on record. Crucially, this is the all-important factor that The Fed's Dudley said he would be monitoring ahead of his decision on rate hikes... Hope collapsed as "expectations" tumbled from 83.4 to 76.4 - the lowest in a year as 73% of respondents cited negative economic developments seeing a weaker econmomy due to a global growth slowdown.
- *NEGATIVE ECONOMIC DEVELOPMENTS CITED BY 73% OF RESPONDENTS
- *AMERICANS SEE WEAKER ECONOMY DUE TO GLOBAL GROWTH SLOWDOWN
Not pretty...
[5]
Reality is also starting to set in for the majority who expected higher incomes in th enext year has now dropped to just 48.3% - its lowest since 2014.
Charts: Bloomberg
