Consumer Confidence Plunges
September 16, 2019
The consumer represents more than two-thirds of the U.S. economy. And the latest University of Michigan survey of consumers shows that consumer sentiment has seen its largest monthly decline since 2012. The August index stands at 89.8, a decline of 8.7% M-O-M and 6% Y-O-Y. Tariff policies, fears of inflation, expected rising unemployment and smaller annual gains in household income are reportedly behind the drop in sentiment.