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Consumer Confidence Plummets as the Economy Weakens Further

The University of Michigan Consumer Sentiment Index has plummeted to its lowest level in seven months.
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Consumer Confidence Plummets as the Economy Weakens Further
A shopper in a grocery store in Miami on July 12, 2023. Joe Raedle/Getty Images
Daniel Lacalle
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Commentary
The University of Michigan Consumer Sentiment Index has plummeted to its lowest level in seven months. The index reading for June came in at 65.6, down from 69.1 in May and lower than the 72 expected by consensus. In the current conditions and expectations categories, the survey fell below economists’ expectations.
Daniel Lacalle
Daniel Lacalle
Author
Daniel Lacalle, Ph.D., is chief economist at hedge fund Tressis and author of the bestselling books “Freedom or Equality” (2020), “Escape from the Central Bank Trap” (2017), “The Energy World Is Flat”​ (2015), and “Life in the Financial Markets.”