When people are worried about their income, their job security, and the cost of everything from rent to food rising, they tend to become careful about spending.
"Consumer sentiment confirmed its early month reading, falling about 6% from last month and landing about 11% below a year ago amid continued worries that inflation will remain elevated for the foreseeable future," according to University of Michigan Surveys of Consumers Director Joanne Hsu.
Consumers are worried, but some people are more worried than others.
"Groups who are typically less-equipped to absorb increases in cost of living also exhibited stronger decreases in sentiment, including older consumers, lower- and middle-income consumers, and those with no stock holdings," Hsu shared.
That, however, has proven to be good news for discount retailers with dollar in their name including Dollar General and Dollar Tree.
#worried #sentiment #month #including
"Consumer sentiment confirmed its early month reading, falling about 6% from last month and landing about 11% below a year ago amid continued worries that inflation will remain elevated for the foreseeable future," according to University of Michigan Surveys of Consumers Director Joanne Hsu.
Consumers are worried, but some people are more worried than others.
"Groups who are typically less-equipped to absorb increases in cost of living also exhibited stronger decreases in sentiment, including older consumers, lower- and middle-income consumers, and those with no stock holdings," Hsu shared.
That, however, has proven to be good news for discount retailers with dollar in their name including Dollar General and Dollar Tree.
#worried #sentiment #month #including
12 days ago
