{"id":2225,"date":"2022-06-11T22:42:17","date_gmt":"2022-06-11T22:42:17","guid":{"rendered":"https:\/\/sasquatchnewsonline.com\/?p=2225"},"modified":"2022-06-11T22:42:17","modified_gmt":"2022-06-11T22:42:17","slug":"consumer-sentiment-sinks-to-its-lowest-level-on-record-since-the-1970s-plunging-8-2-points-in-may-to-a-new-all-time-low","status":"publish","type":"post","link":"https:\/\/sasquatchnewsonline.com\/?p=2225","title":{"rendered":"Consumer Sentiment Sinks to Its Lowest Level ON RECORD Since the 1970s Plunging 8.2 Points in May to a New All-Time Low"},"content":{"rendered":"<p>The University of Michigan Surveys of Consumer Sentiment sank to its lost level on record since the numbers were first reported in the 1970s.<\/p>\n<p>The latest number slumped to 50.2 as inflation hit record highs and gas prices continue to soar into unchartered territory.<\/p>\n<p>June\u2019s number of <strong>50.2<\/strong>, announced on Friday, was much lower than the <strong>58.1<\/strong> that was expected.<\/p>\n<p>Throughout 2019 the average number as around 96.0.<\/p>\n<p>The number was down 14% since May.<\/p>\n<p>Americans are not fooled by the empty rhetoric of the Biden regime and their lapdogs in the media.<\/p>\n<p>Americans understand there are dark days ahead thanks to the foolish policies of an illegitimate regime.<\/p>\n<p><a href=\"https:\/\/www.aol.com\/finance\/consumer-sentiment-hits-record-low-144112720.html\">AOL.com<\/a> reported:<\/p>\n<p>Consumer sentiment sank to its worst level on record in early June as the rising cost of food, gas, and other essentials weighed on American consumers.<\/p>\n<p>The University of Michigan\u2019s closely watched\u00a0<a class=\"link rapid-noclick-resp\" href=\"http:\/\/www.sca.isr.umich.edu\/\" target=\"_blank\" rel=\"noopener\">Surveys of Consumers consumer sentiment index\u00a0<\/a>slumped to 50.2 in the preliminary June survey, marking the lowest level recorded by the survey, which dates back to the mid-\u201970s.<\/p>\n<p>Friday\u2019s reading marked a drop from May\u2019s already-depressed level of 58.4, and missed estimates for a print of 58.1, according to Bloomberg data. Throughout 2019, the last year before the COVID-19 pandemic sent the economy into recession, the sentiment index had averaged around 96.0.<\/p>\n<p>\u201cConsumer sentiment declined by 14% from May, continuing a downward trend over the last year and reaching its lowest recorded value, comparable to the trough reached in the middle of the 1980 recession,\u201d Joanne Hsu, director of the University of Michigan\u2019s Surveys of Consumers, said\u00a0<a class=\"link rapid-noclick-resp\" href=\"http:\/\/www.sca.isr.umich.edu\/\" target=\"_blank\" rel=\"noopener\">in a statement.<\/a><\/p>\n<p>Consumers\u2019 assessments of their own personal financial situations deteriorated sharply and contributed heavily to the overall drop in the index, Hsu noted. Nearly half (46%) of consumers attributed these worsening views to inflation, up from 38% who did so in May.<\/p>\n<p>More from Charles Payne.<\/p>\n<p>Watch how Harris has to keep holding on to her seat as Charles tells her what the awful truth is. \u2013 Charles Payne on 40-Year Inflation High: Biden Admin, Federal Reserve \u2018Created a Monster\u2019 <a href=\"https:\/\/t.co\/LAHwvzeLaA\">pic.twitter.com\/LAHwvzeLaA<\/a><\/p>\n<p>\u2014 Alexandra Datig | Front Page Index  (@alexdatig) <a href=\"https:\/\/twitter.com\/alexdatig\/status\/1535387052702715909\">June 10, 2022<\/a><\/p>\n\n<p>The post <a href=\"https:\/\/www.thegatewaypundit.com\/2022\/06\/consumer-sentiment-sinks-lowest-level-record-since-1970s-plunging-8-2-points-may-new-time-low\/\">Consumer Sentiment Sinks to Its Lowest Level ON RECORD Since the 1970s Plunging 8.2 Points in May to a New All-Time Low<\/a> appeared first on <a href=\"https:\/\/www.thegatewaypundit.com\/\">The Gateway Pundit<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>The University of Michigan Surveys of Consumer Sentiment sank to its lost level on record since the numbers<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1],"tags":[],"class_list":["post-2225","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.5 - 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