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☆ These 2 charts show just how little faith Americans have in the economy
▼ + stars: | 2024-05-12 | by ( Paul Squire | Madison Hoff | ) www.businessinsider.com time to read: +1 min

Consumers aren't buying it, per the latest monthly survey of how Americans feel about the economy. These charts show how gloomy Americans feel, despite the numbers. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementIndicators be damned: US consumers are still gloomy about the state of the economy. This story is available exclusively to Business Insider subscribers.

Persons: —, Joanne Hsu Organizations: Consumers, Service, University of Michigan, Business

☆ Consumer sentiment tumbles as inflation fears surge, closely watched survey shows
▼ + stars: | 2024-05-10 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

Consumer sentiment slumped as inflation expectations rose, despite otherwise strong signals in the economy, according to a closely watched survey released Friday. The University of Michigan Survey of Consumers sentiment index for May posted an initial reading of 67.4 for the month, down from 77.2 in April and well off the Dow Jones consensus call for 76. Along with the downbeat sentiment measure, the outlook for inflation across the one- and five-year horizons increased. The inflation readings represent the biggest pitfall for policymakers as the Federal Reserve contemplates the near-term path of monetary policy. The next important data point for inflation comes Wednesday when the Labor Department releases its consumer price index report for April.

Persons: Dow Jones, Joanne Hsu, Paul Ashworth, Jeffrey Roach, it's, Jerome Powell Organizations: The University of Michigan Survey, Dow, North, Capital Economics, Federal Reserve, LPL, Fed, Labor Department Locations: North America, Michigan

☆ Consumers haven’t felt this bad about the economy since November
▼ + stars: | 2024-05-10 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +1 min

Additionally, consumers are bracing for even higher price increases in the year ahead compared to readings from prior months, the survey found. However, the latest reading is still better than last May, when inflation was running at 4%, versus the latest reading of 3.5%. Long-run inflation expectations also rose, to 3.1% from 3.0% in April. Since inflation expectations can effectively control the pace of price hikes, businesses take those expectations into account when pricing goods and services. The survey suggests that the recent optimism consumers had about the state of the economy is waning.

Persons: Biden, FactSet, it’s, they’re, Joanne Hsu Organizations: New, New York CNN, University of Michigan, Federal Reserve, Fed, Consumers Locations: New York

☆ Why many Americans still feel bad about the economy despite strong data
▼ + stars: | 2024-05-03 | by ( Jeff Huang | In Jefftchuang | ) www.cnbc.com time to read: +1 min

These are the kinds of questions used by the University of Michigan to calculate the Consumer Sentiment Index, an economic indicator measuring how people feel about the economy. That survey and others show there is a pervasive sense of disconnect between the overall economic picture and how people feel about the economy. Despite slowing inflation, a healthy labor market with record-low unemployment, and stocks that remain in a bull market, consumer sentiment remains below pre-pandemic levels. "People don't tend to think in terms of inflation—economists do," said Paul Donovan, chief economist at UBS Global Wealth Management. Normal people think in terms of price levels."

Persons: Joanne Hsu, Paul Donovan Organizations: University of Michigan, Consumers, UBS Global Wealth Management Locations: U.S

☆ Americans’ attitudes toward the economy hold steady despite disappointing inflation reports
▼ + stars: | 2024-04-12 | by ( Bryan Mena | ) edition.cnn.com time to read: +4 min

Washington CNN —Americans haven’t felt any better about the economy these past few months, but they haven’t felt any worse either. The Federal Reserve cares whether or not Americans have faith that inflation will eventually return to levels they’re used to. Consumer prices were 3.5% higher in March from a year earlier, a much bigger increase than February’s 3.2% and above what economists were forecasting. On a monthly basis, consumer prices rose 0.4%, also above expectations. The economy is coming into focusEveryday Americans, on the other hand, haven’t fretted about progress on inflation potentially stalling.

Persons: haven’t, ”, Joanne Hsu, ” Oren Klachkin, Stocks, Goldman Sachs, “, ” Goldman Sachs’s, Jan Hatzius, they’re, Joe Biden, Biden, Donald Trump Organizations: Washington CNN, University of Michigan’s, Consumers, Nationwide, CPI, Bank of America, CNN Locations: Pennsylvania, Scranton , Pennsylvania

☆ The Trapped Economy: Americans Can't Buy a Home, Car, or Find a New Job
▼ + stars: | 2024-03-20 | by ( Emily Stewart | ) www.businessinsider.com time to read: +7 min

If you like your situation right now — your job, your house, your car — you can keep it. The labor market has cooled off somewhat, making it less advantageous to hunt for a new job. The car market is in a similar situation. Employers are hiring as if there's a relatively weak labor market, not a strong one. Yes, the labor market is strong, but it's not a great time to go looking for a new job.

Persons: Joanne Hsu, there's, they're, —, Dana Peterson, that's, it's, Matt Darling, Darling, Tamara Charm, Charm, Emily Stewart Organizations: University of Michigan, Labor Statistics, Conference Board, Companies, Employers, Niskanen, McKinsey, Business

Consumers remained largely sanguine about the economy and inflation in February, according to the latest sentiment survey from the University of Michigan released Friday. The February index rose 0.6 points to 79.6 after posting strong gains in the prior two months. The index of consumer expectations, a forecast of how Americans see the economy in the coming months, is now up 21.6% from a year ago. Expectations for inflation did tick up slightly, with the 12-month level now at 3%, up from 2.9% in January. “The upside surprise in the January PPI report echoes the month’s CPI report,” said Bill Adams, chief economist for Comerica Bank.

Persons: ”, Joanne Hsu, “ Consumers, Hsu, Jerome Powell’s, Ken Tjonasam, Powell, Bill Adams Organizations: University of Michigan, “, PPI, Global, CPI, Comerica Bank, “ Labor

WASHINGTON (AP) — A measure of consumer sentiment ticked higher this month, after soaring in December and January, underscoring that Americans are starting to feel better about the economy after several years of gloom. The University of Michigan's consumer sentiment index, released Friday, ticked up to 79.6 in February, from 79 in January. Still, consumer sentiment remains 6% below its long-run average after the worst spike in inflation in four decades pushed up the cost of groceries, rent, gas, and other necessities, frustrating many consumers. “Consumers continued to express confidence that the slowdown in inflation and strength in labor markets would continue.”Improving consumer confidence can often lead to greater spending, which can support economic growth. Since the pandemic, however, consumer spending has been mostly healthy even when measures of sentiment were quite low.

Persons: Joe Biden's, Joanne Hsu, “ Consumers Organizations: WASHINGTON, University of, “ Locations: underscoring

Consumers are happy, the stock market is near record highs, inflation is moderating and the labor market is defying all forecasts. Apparently, very little as the latest reading on consumer sentiment from the University of Michigan confirmed on Friday. The final consumer sentiment survey for January posted a 13% increase to 79, almost a 10-point surge from December’s 69.7 reading, echoing earlier estimates. “This morning’s strong jobs report diminished the chances of the Fed cutting in March,” said Jeffrey Roach, chief economist at LPL Financial. This means businesses are in a good position despite the macro headwinds and uncertainty about growth expectations.”

Persons: “, ”, Joanne Hsu, ” Hsu, –, David Royal, Jeffrey Roach Organizations: University of Michigan, Federal Reserve, Labor Department, Federal Reserve Bank, Atlanta’s, LPL

☆ Premarket stocks: January’s turnaround could be a good omen for the year
▼ + stars: | 2024-01-22 | by ( Krystal Hur | ) edition.cnn.com time to read: +8 min

New York (CNN) — US stocks rallied powerfully last week after a topsy-turvy start to the month. History indicates that if the market can cling to those gains, that could bode well for the rest of the year. But last week, all three major indexes turned positive for the year as tech stocks led the broader market higher. The January barometer, introduced in the Stock Trader’s Almanac, states that however stocks perform during January, their year-end performance will follow suit. That is good news for the 85 million homeowning households that enjoyed further gains in housing wealth, said Lawrence Yun, chief economist at NAR.

Persons: turvy, bode, Bell, Anna Rathbun, we’re, it’s, we’ve, Bryan Mena, ” Joanne Hsu, Anna Bahney, Lawrence Yun, Read Organizations: CNN Business, Bell, CNN, Dow Jones, Nasdaq, CBIZ Investment Advisory Services, The University of Michigan’s, National Association of Realtors Locations: New York

☆ Consumer sentiment surges while inflation outlook dips, University of Michigan survey shows
▼ + stars: | 2024-01-19 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

The University of Michigan's Consumer Survey of Consumers showed a reading of 78.8 for January, its highest level since July 2021 and up 21.4% from a year ago. On a two-month basis, sentiment showed its largest increase since 1991, said Joanne Hsu, the survey's director. "Consumer views were supported by confidence that inflation has turned a corner and strengthening income expectations," Hsu said. Along with the improved outlook on general conditions, survey respondents displayed more confidence that inflation is coming down. The outlook for the inflation rate a year from now declined to 2.9%, down from 3.1% in December for the lowest reading since December 2020.

Persons: Joanne Hsu, Hsu, Andrew Hunter, Stocks Organizations: Veteran, The Department of Labor, The University of Michigan's Consumer Survey, Consumers, Republicans, Federal Reserve, AAA, Capital Economics Locations: Long Beach , California

☆ Americans are feeling much better about the economy thanks to slowing inflation
▼ + stars: | 2024-01-19 | by ( Bryan Mena | ) edition.cnn.com time to read: +2 min

Washington, DC CNN —Americans’ attitudes on the economy are improving substantially as inflation slows. The University of Michigan’s latest consumer survey showed that sentiment improved greatly this month, soaring 13% from December, according to a preliminary reading released Friday. The university’s latest survey showed that US consumers’ expectations for inflation rates in the year ahead and over the next five years also improved. Americans still have some concernsWhile Friday’s survey showed that consumers are feeling some much needed relief, there are still lots of pain points for many Americans. In addition to high prices, Americans continue to grapple with an impenetrable housing market, persistent income inequality, and rising debt, prompting some to think that the so-called “American Dream” is broken.

Persons: ” Joanne Hsu Organizations: DC CNN, University of Michigan’s Locations: Washington

“Consumer views were supported by confidence that inflation has turned a corner and strengthening income expectations,” Hsu added. “Like December, there was a broad consensus of improved sentiment across age, income, education, and geography,” Hsu said. There may, however, be some relief in 2024 as mortgage rates fall in line with reduced interest rates from the Federal Reserve. “Mortgage rates will continue to remain a wild card for home shoppers,” said Danielle Hale, chief economist at Realtor.com. "Mortgage rates are meaningfully lower compared to just two months ago, and more inventory is expected to appear on the market in upcoming months."

Persons: Joanne Hsu, ” Hsu, ”, Danielle Hale, Lawrence Yun Organizations: University of Michigan, Republicans, Federal Reserve, National Association of Realtors, “, Realtor.com, National Association of Home Builders, Federal Reserve Bank of New, Federal Reserve Bank, Atlanta’s Locations: “, Federal Reserve Bank of New York

☆ Inflation has created a dark cloud over how everyday Americans view the economy
▼ + stars: | 2023-12-25 | by ( Alex Harring | ) www.cnbc.com time to read: +8 min

There's rising hope that monetary policymakers have successfully cooled inflation without tipping the economy into a recession. Yet closely watched survey data from the University of Michigan shows consumer sentiment, while improving, is a far cry from pre-pandemic levels. Inflation vs. the job marketContinued strength in the labor market is something economists expected to sweeten everyday Americans' views of the economy. While the Michigan index compiles questions focused on financial conditions and purchasing power, the Conference Board's more closely gauges one's feelings about the job market. A hot job market can be a double-edged sword for sentiment, Michigan's Hsu noted.

Persons: Scott Olson, Kyle Connolly, Connolly, she's, Joanne Hsu, we're, Hsu, That's, Camelia, Kuhnen, Michigan's Hsu, UNC's Kuhnen, Karen Dynan, Marissa Lyda, Lyda, She's, there's, There's, Harvard's, Dynan, Jerome Powell, Kevin Lamarque Organizations: Toyota, Facebook, Federal Reserve, University of Michigan, Bureau of Labor Statistics, Labor Department, Conference, University of North, U.S . Treasury Department, Walmart, Federal, Committee Locations: Chicago , Illinois, Florida's panhandle, Michigan, University of North Carolina, Harvard, Phoenix, Portland, Kroger, Washington , U.S

☆ US consumers worry inflation will pick up again, UMich survey finds
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: +3 min

"These expectations have risen in spite of the fact that consumers have taken note of the continued slowdown in inflation," survey Director Joanne Hsu said in a statement. But progress this year has been inconsistent, and Fed officials remain wary of the potential for a reversal. That said, the University of Michigan survey results are at odds with other measures of inflation expectations that have shown they have in fact been moderating. A New York Fed survey of consumers last week, for instance, showed inflation expectations over both one-year and five-year horizons eased in October even as the Michigan survey showed them accelerating. Market-based measures of inflation expectations are also declining.

Persons: Joanne Hsu, Quincy Krosby, Dan Burns, Chizu Organizations: Federal Reserve, University of Michigan's, Fed, Global, LPL, University of Michigan, New York Fed, . Treasury, Securities, Thomson Locations: Michigan

Consumer sentiment edged down in November with expectations for future business conditions taking a sharp tumble. The University of Michigan’s consumer sentiment index ended the month at 61.3, a 3.9% drop from the 63.8 in October. The current conditions index fell 3.3% to 68.3, while the future expectations index declined 4.2% to 56.8. Political Cartoons on the Economy View All 610 Images“Long-run inflation expectations rose from 3.0% last month to 3.2% this month, a reading last seen in 2011,” Hsu noted. Sentiment also has been divided by political affiliation with Republicans far more critical of the economy than Democrats.

Persons: “ Younger, ”, Joanne Hsu, “, ” Hsu Organizations: University of, Republicans, Federal Reserve, Wednesday, Dow Jones

☆ Americans’ attitudes about the economy worsened for the fourth straight month
▼ + stars: | 2023-11-10 | by ( Bryan Mena | ) edition.cnn.com time to read: +3 min

Washington, DC CNN —Americans are becoming gloomier about the economy with interest rates at a 22-year high and economic growth widely expected to slow. That was the fourth consecutive month that sentiment soured, after improving over the summer. Meanwhile, both short-term and long-term inflation expectations worsened this month. Americans’ expectations for inflation rates in the year ahead rose to 4.4% in November, up from October’s 4.2% reading. In a worrisome sign for the Federal Reserve, long-run inflation expectations rose to 3.2% this month, the highest level since 2011.

Persons: Joanne Hsu, Jerome Powell, it’s, ” Powell, Stocks, —, Powell Organizations: DC CNN, University, Federal Reserve, Fed, International Monetary Fund Locations: Washington, Gaza, Ukraine

☆ Dow rises 391 points as US stocks close out another winning week
▼ + stars: | 2023-11-10 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

US stocks climbed Friday, with the Dow jumping by almost 400 points. Stocks rebounded after falling on Thursday to snap an eight-day winning streak. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementUS stocks jumped on Friday, with the Dow Jones Industrial Average gaining almost 400 points and the Nasdaq adding more than 2%. Meanwhile, US consumers' long-term inflation expectations rose to the highest since 2011, according to a preliminary November report from the University of Michigan.

Persons: Stocks, —, Jerome Powell, Joanne Hsu Organizations: Dow, Service, Dow Jones Industrial, Nasdaq, Treasury, Federal, University of Michigan, University of Locations: Gaza, Ukraine

Consumers continued to sour on the economic outlook in November while also growing more pessimistic about future inflation, according to the first estimate from the University of Michigan consumer sentiment survey. The index of consumer sentiment fell 5% to a reading of 60.4, down from 63.8 in October. “Ongoing wars in Gaza and Ukraine weighed on many consumers as well.”“Overall, lower-income consumers and younger consumers exhibited the strongest declines in sentiment,” Hsu added. Various surveys measuring the minds of consumers have found them to be worried about inflation and the economy in general. “Consumer sentiment continues to trend downward at a moderate pace as consumers attempt to juggle inflation and higher interest rates,” said Damian McIntyre, Portfolio manager and head of multi asset solutions at Federated Hermes.

Persons: ”, Joanne Hsu, ” Hsu, Joe Biden, Damian McIntyre, Gregory Daco, ” Daco, Goldman Sachs Organizations: University of Michigan, “, Federated Hermes, Federal Reserve, Index, Louis Federal Reserve Bank Locations: Gaza, Ukraine, Kentucky, Ohio

☆ The shaky stock market is making Americans feel uneasy
▼ + stars: | 2023-10-27 | by ( Bryan Mena | ) edition.cnn.com time to read: +2 min

Washington, DC CNN —Americans’ moods soured this month, largely due to a wobbly stock market. The survey also showed that Americans became more pessimistic about the economy’s outlook for the year ahead. The tech-heavy Nasdaq tilted into correction territory Thursday as shares of some Big Tech companies slipped. Meanwhile, Americans’ inflation expectations for the year ahead worsened in October, jumping to 4.2% from 3.2% in September, the highest reading since May. The Federal Reserve pays close attention to inflation expectations, particularly longer-term expectations.

Persons: Joanne Hsu Organizations: DC CNN, University of Michigan’s, Consumers, Investors, Federal Reserve, Treasury, Meta, Microsoft, Google, Big Tech, Apple, Nvidia, Fed Locations: Washington

Consumers fell prey to inflation that remains high, especially for life’s necessities like food and gasoline, according to the latest monthly survey from the University of Michigan. The consumer sentiment survey fell by 7% overall to 63 from 68.1 in September, while the current conditions reading dropped to 66.7 from 71.4 and the future expectations was at 60.7, down from 66 a month ago. Notably, expectations for the annual rate of inflation a year from now rose to 3.8% from 3.2% in September. “Assessments of personal finances declined about 15%, primarily on a substantial increase in concerns over inflation, and one-year expected business conditions plunged about 19%,” said Joanne Hsu, survey director. “Owners remain pessimistic about future business conditions, which has contributed to the low optimism they have regarding the economy,” said Bill Dunkelberg, NFIB chief economist.

Persons: ”, Joanne Hsu, Sam Bullard, Joe Brusuelas, Tuan Nguyen, NFIB, Bill Dunkelberg, JP Morgan Chase, Jamie Dimon Organizations: University of Michigan, Monetary Fund, Federal Reserve, Federal Reserve Bank of Atlanta, Wells Locations: U.S, Washington

☆ Americans are becoming more worried about inflation after resumption of student loans
▼ + stars: | 2023-10-13 | by ( Bryan Mena | ) edition.cnn.com time to read: +2 min

Washington, DC CNN —Persistently high inflation took a toll on Americans’ attitudes this month as many began to pay back student loans following a three-year hiatus. The University of Michigan’s consumer sentiment index fell 7% in October from the prior month, according to a preliminary reading released Friday. October marks the first month of Americans paying back their student loans since the pandemic-related pause. The pause gave relief to more than 43 million Americans who have student loans, with the vast majority owing less than $40,000 and nearly one-third owing less than $10,000. Expectations can worsen, the longer inflation remains elevated, so the upward pressure from higher gas prices on headline inflation can make Americans more pessimistic about inflation.

Persons: DC CNN —, ”, Joanne Hsu, “ Organizations: DC CNN, University of, Consumers, Federal Reserve Locations: Washington, Wells Fargo

☆ Government shutdown, labor strikes will likely weigh on US consumers’ attitudes
▼ + stars: | 2023-09-29 | by ( Bryan Mena | ) edition.cnn.com time to read: +3 min

Washington, DC CNN —Americans are taking notice of a possible government shutdown and the uncertainty of ongoing labor strikes, according to the University of Michigan’s latest consumer sentiment survey. The university’s Consumer Sentiment Index edged lower by 1.4 points in September, according to a final reading. That would mean some federal workers become furloughed and agencies operate with skeleton crews, hamstringing agencies’ ability to provide crucial government services. The ongoing United Auto Workers strike is also not expected to end soon. With so much turmoil, Americans will likely feel uneasy in the coming weeks, which could affect their spending.

Persons: ”, Joanne Hsu, There’s Organizations: DC CNN, University of Michigan’s, “, Republicans, United Auto Workers, UAW, Ford, GM, Kaiser Permanente, Commerce Department Locations: Washington, Kaiser, California , Colorado , Oregon, Washington , Virginia, Las Vegas, Reno

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow inflation expectations and consumer behavior can manifest higher pricesWhat people believe may happen to prices in the future can influence actual inflation. "People behave in accordance with their expectations and with their sentiment and attitudes towards the economy," Joanne Hsu, director of the Surveys of Consumers at the University of Michigan, told CNBC. Watch the video above to learn more about how inflation expectations are measured, why the Federal Reserve cares so much about what Americans predict and how consumer behavior can manifest higher prices.

Persons: Joanne Hsu Organizations: Consumers, University of Michigan, CNBC, Reserve

☆ Why the Fed's interest rate move may hinge on inflation expectations
▼ + stars: | 2023-09-19 | by ( Andrea Miller | In Dreajmiller | ) www.cnbc.com time to read: +3 min

The U.S. seemed to be winning its battle against inflation, but the latest consumer price index data showed inflation rose more than expected. The University of Michigan's consumer sentiment August survey indicated consumers' one-year inflation expectations were at 3.3%, marking three consecutive months of stability. Inflation expectations, or the rate at which consumers expect prices to rise or fall in the future, can influence higher prices in the economy. Inflation expectations play a crucial role in the decisions made by the Federal Reserve. But consumer expectations of inflation are still above the Fed's 2% inflation rate target.

Persons: Joanne Hsu, It's, Hsu, Claudia Sahm, Jerome Powell's, Powell, Barry Glassman Organizations: University of Michigan, The University of, Consumers, CNBC, Federal Reserve, Sahm Consulting, Federal, Kansas City, Wealth Services Locations: U.S, Jackson Hole , Wyoming

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