CONSUMER SENTIMENT FALLS 13.5% FROM JULY

Key Points:

  • 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.
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