Consumer sentiment in the United States is deteriorating
In the United States, consumer sentiment is deteriorating more than expected. Inflation expectations continue to rise.
US consumer sentiment deteriorated more than expected in April. The barometer fell 1.5 points to 77.9 points, the University of Michigan announced Friday in its monthly survey. Experts polled by Reuters had only expected a drop to 79. Consumers rated their situation in April as much worse compared to the previous month and rated the outlook as somewhat less rosy.
Consumer inflation expectations have risen: looking ahead to the next 12 months, they expect the inflation rate for goods and services to reach 3.1%. In March, consumers estimated only 2.9%.
They still face rising costs of living, although the US Federal Reserve is aggressively countering this with its high interest rate policy. The inflation rate rose to 3.5% in March, after 3.2% in February. Because of the slowdown in inflation, financial markets expect the Fed to postpone its first rate cut for a few more months – perhaps until late summer. The bank currently maintains the key interest rate in the range of 5.25% to 5.5%.
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Reuters
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