Last updateFri, 05 Jun 2020 3pm

Manufacturing & The Economy

Consumer Sentiment Stabilizes After Three-Year Low in August

The University of Michigan Index of Consumer Sentiment posted a small rebound from the sharp August decline, marking the third lowest level since Trump's election. While the uptick was across both current and expected economic conditions, the early September rebound was not widespread across age or income subgroups as it only fell among consumers under age 45 and among households with incomes in the top third---these two groups account for about half of all spending. The data indicates that consumers anticipate that the Fed will cut interest rates next week, with net declines in interest rates more frequently expected at present than any time since the depths of the Great Recession in February 2009.

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