The Mood of Consumers Is Improving Slightly in July – By Tim Smart (US News) / July 15, 2022
Expectations of future inflation also took a turn for the better.
Consumers appeared slightly more optimistic about the future in early July, according to a survey from the University of Michigan released Friday.
The university’s index of consumer sentiment inched up to 51.1 from 50 in June, the lowest level in its history, while expectations of inflation improved modestly.
The current conditions index rose to 57.1 from 53.8 but it is still down 32.4% from a year ago.
“Consumer sentiment was relatively unchanged, remaining near all-time lows,” said Joanne Hsu, director of the surveys. “Current assessments of personal finances continued to deteriorate, reaching its lowest point since 2011.”
