Tags: economy inflation gas jobs

Consumer Sentiment Falls for 3rd Straight Month on Inflation Concerns

Consumer Sentiment Falls for 3rd Straight Month on Inflation Concerns
(Dreamstime)

Friday, 14 June 2024 10:29 AM EDT

U.S. consumer sentiment fell in June for the third straight month as Americans took a dimmer view of their own finances and worried about persistent inflation.

The University of Michigan’s consumer sentiment index, released Friday in a preliminary version, dropped to 65.6 this month from a final reading of 69.1 in May. June's reading is about 30% higher than the bottom reached in June 2022, when inflation peaked at a four-decade high, but is still below levels typically associated with a healthy economy. Consumers’ outlook has generally been gloomy since the pandemic and particularly after inflation first spiked in 2021.

Consumer spending is a crucial driver of growth. Sour sentiment about the economy is also weighing on President Joe Biden’s reelection bid.

Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.


StreetTalk
U.S. consumer sentiment fell in June for the third straight month as Americans took a dimmer view of their own finances and worried about persistent inflation.
economy inflation gas jobs
122
2024-29-14
Friday, 14 June 2024 10:29 AM
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