- Consumers reported a stunning loss of confidence in the first half of August.
- The Consumer Sentiment Index fell by 13.5% from July, to a level that was just below the April 2020 low of 71.8.
- This was well below consensus of an 81.2 reading and the 7th highest drop in the last 50 years.
- The losses in August were widespread across income, age, and education subgroups and observed across all regions.
- The losses covered all aspects of the economy, from personal finances to prospects for the economy, including inflation and unemployment.
- The Right Facts will continue to monitor Consumer Sentiment.