Consumer sentiment falls on inflation concerns – University of Michigan

MarketWatch/Xavier Fontdegloria/5-13-2022

“The deterioration in consumer sentiment reverses the improvement registered in April, which came after three consecutive months of drops as inflation has weighed on moods over the last year. U.S. consumer sentiment remains at its lowest reading since 2011, and well below prepandemic levels.”

USAGOLD note: As the Fed tightens into a slowing economy, we take no pleasure in pointing out that the University of Michigan’s Consumer Sentiment Index has been a reliable leading indicator of recession since the 1950s:

line chart showing the University of Michigan consumer sentiment index 1950 to present
Sources: St. Louis Federal Reserve [FRED], University of Michigan

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