US Consumer Sentiment Plummets Amid Economic Concerns and Inflation Fears
TL;DR Summary
US consumer sentiment fell to a six-month low in May, with the University of Michigan's preliminary reading on the overall index of consumer sentiment coming in at 57.7, down from 63.5 in April. The reading of one-year inflation expectations dipped to 4.5% this month, while its five-year inflation outlook rose to 3.2%, the highest reading since 2011. The drop in sentiment was attributed to worries about the economy's outlook amid the debt crisis standoff and negative news about the economy.
- US consumer sentiment drops to six-month low in May Reuters
- Americans are worried about the economy. That could make a debt default even worse. Yahoo Finance
- Wall Street Roots for Bad News. Consumers See Plenty Already. Barron's
- Preliminary consumer sentiment reading falls short of May expectations: University of Michigan Yahoo Finance
- U.S. consumer long-term inflation expectations hit 12-year high The Spokesman Review
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