US Consumer Sentiment Drops Amid Economic Worries and Debt Ceiling Debacle.
TL;DR Summary
US consumer sentiment dropped to a six-month low in May due to concerns over the political haggling over raising the federal government's borrowing cap, according to the University of Michigan's survey. The survey also showed consumers' long-term inflation expectations jumping this month to their highest reading since 2011. The non-partisan Congressional Budget Office warned on Friday that the nation faced a "significant risk" of defaulting on payment obligations within the first two weeks of June without a debt ceiling increase.
Topics:business#debt-ceiling#economy#federal-reserve#import-prices#inflation-expectations#us-consumer-sentiment
- US consumer sentiment plummets to six-month low on debt ceiling debacle Reuters
- Americans are worried about the economy. That could make a debt default even worse. Yahoo Finance
- Preliminary consumer sentiment reading falls short of May expectations: University of Michigan Yahoo Finance
- Stock market today: Wall Street slips as households get more nervous WHIO
- Wall Street Roots for Bad News. Consumers See Plenty Already. Barron's
Reading Insights
Total Reads
0
Unique Readers
0
Time Saved
3 min
vs 4 min read
Condensed
89%
723 → 80 words
Want the full story? Read the original article
Read on Reuters