(University of Michigan) US consumer sentiment fell in early January, with the index down 2.5% to the second-lowest in a decade of 68.8.
The fall in consumer sentiment reflected concerns about inflation and erosion of living standards, with 33% of individuals saying they were worse off financially than last year. The Delta and Omicron variants also dampened the sentiment.
At 68.8, the Index of Consumer Sentiment is 12.9% below January last year and fails to reach an average of 70.3 posted in the last six months.
The index gauging the current economic conditions fell by a monthly 1.3% to 73.2. The index is 15.6% below January last year.
Consumers also remained less upbeat about the future, with the consumer expectations gauge down 3.5% from last month to 65.9. The index is below January last year by 10.9%.
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