U.S. consumer sentiment slumped to a six-month low in May on worries that political haggling over raising the federal government's borrowing cap could trigger a recession.
The University of Michigan's survey on Friday also showed consumers' long-term inflation expectations jumping this month to their highest reading since 2011, bad news for the Federal Reserve after it signaled last week that it could pause the U.S. central bank's fastest monetary policy tightening cycle since the 1980s.
Economists polled by Reuters had forecast a preliminary reading of 63.0. The survey's current economic conditions index fell to 64.5 from 68.2 in April. Its measure of consumer expectations dropped to 53.4 from 60.5 in the prior month. "We've seen consumer sentiment sink often since COVID scrambled the economy, but consumer spending has risen and now maintains a healthy level," said Robert Frick, corporate economist with Navy Federal Credit Union in Vienna, Virginia.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
TooFab's Week In Celebrity Photos: May 7 - May 13Beyonce looked AMAZING as she celebrated the first stop on her Renaissance tour (via toofab)
Baca lebih lajut »
Thailand's election may deliver mandate for change, but opposition victory may not assure powerVoters disaffected by nine years of plodding rule by a coup-making army general are expected to deliver a strong mandate for change in Thailand’s general election Sunday. But a predicted victory by the allies of Thaksin Shinawatra, whose ouster by coup 17 years ago plunged the country into prolonged instability, has caused concern for an unhindered democratic transition. Dissatisfaction with incumbent Prayuth Chan-ocha is high. But weariness and even anger at the military’s habitual interference in politics is a major factor. The favored prime minister candidate appears to be Thaksin’s daughter, Paetongtarn Shinawatra. But the final choice for who leads the next government may rest with senators appointed under military rule.
Baca lebih lajut »
SEPTA urging Taylor Swift concertgoers to use public transportation to avoid 'Bad Blood' with trafficTaylor Swift will spend May 12, May 13 and May 14 performing at Lincoln Financial Field as part of her Eras Tour.
Baca lebih lajut »