USA: Consumption climate at the University of Michigan surprisingly darkens | news

MICHIGAN (dpa-AFX) – The consumer climate in the USA surprisingly clouded over in October. The index for consumer sentiment collected by the University of Michigan fell compared to the previous month by 1.4 points to 71.4 points, as the university announced on Friday after an initial survey. Analysts, however, had expected an increase to 73.1 points. In August, the indicator fell to 70.3 points, its lowest level since December 2011, from which it recovered somewhat in September.

The consumer climate thus remains at a low level. The willingness to buy would be primarily burdened by the recent price hike, according to the university. In September the inflation rate rose to 5.4 percent. It thus returned to the level of the summer months of June and July, when the rate had reached its highest level since 2008.

The assessment of the current situation of the surveyed consumers clouded over again. Consumer expectations also fell, according to the survey.

The University of Michigan indicator is a measure of the purchasing behavior of American consumers. It is based on a telephone survey of around 500 households. The questions asked are the financial and economic assessment of the situation as well as the corresponding expectations./jkr/he

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.