In Latest Sentiment Survey, Buying Conditions Worst in Decades – Mish Talk

Worst buying conditions in decades

Bloomberg reports that Americans are seeing the worst shopping conditions in decades on high prices

The University of Michigan’s preliminary sentiment index rose slightly to 71 from 70.3 in August, data showed Friday. The figure was lower than the median estimate of 72 in a Bloomberg survey of economists.

Purchasing conditions for household durable goods, homes and motor vehicles have all fallen to decades lows. The report said the declines were due to complaints about high prices. Consumers expect inflation to rise 4.7% in the coming year, the highest level since 2008.

The university’s current conditions gauge fell to 77.1, the lowest since April 2020, from 78.5. A measure of expectations fell from 65.1 to 67.1, according to the survey conducted from August 25 to September 12.

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