Despite modestly beating expectations, UMich consumer sentiment for June dropped to 95.1 – the lowest since Nov 2016 – led by a collapse in ‘hope’ for the future.
Inflation expectations for the medium-term fell very modestly but both short- and medium-term remain near record lows.
Personal finance expectations improved in June as did the percentage of Americans expecting higher incomes. However, the percentage of Americans who expect a comfortable retirement dropped notably… and the percentage of Americans who expect the country to have contonuous good times for the next 12 months also tumbled.
This post was published at Zero Hedge on Jun 30, 2017.