“Stunning” Drop In Already-Bad Consumer Sentiment

(Ann Arbor, MI) — Consumer sentiment is hitting its lowest level in a decade. The University of Michigan’s early reading for this month fell more than eight-percent from January largely due to inflation. The survey noted the “stunning” decline reflects less confidence in the government’s economic policies with nearly half of all consumers expecting less income this year. Chief survey economist Richard Curtin noted households with incomes of 100-thousand dollars or more accounted for the sharp decline in sentiment.