No. of Recommendations: 2
* U of Michigan's latest consumer survey reveals a substantial improvement in Americans' attitudes towards the economy due to a slowdown in inflation.
* Consumer sentiment rose by 13% from December, reaching its highest level since July 2021.
* The survey attributes this positive shift to the belief that inflation has turned a corner and expectations of strengthening income.
*Over the past two months, sentiment has seen a cumulative
29% increase,
the largest two-month rise since 1991. The easing of inflation throughout 2023, without a significant rise in unemployment, has contributed to a more positive outlook among consumers.
“The powerful surge shows Americans are feeling the effects of lower inflation. That’s transmitted directly through prices at the pump, which have been falling since September, and less directly given wage increases have risen above the rate of inflation,” Robert Frick, corporate economist at Navy Federal Credit Union, said in a note Friday. “The strong jobs market also heavily influences Americans’ view of the economy in general.”
Ref:
https://www.cnn.com/2024/01/19/economy/americans-a... How about all of you? How are you feeling about your personal income, inflation, and the overall economy? Positive, negative, or neutral?
