Posted on 10/15/2021 1:08:21 PM PDT by Hojczyk
U.S. consumer sentiment took a surprise downturn in October to the second-lowest level since 2011.
The University of Michigan’s preliminary October read of consumer sentiment fell to 71.4 from 72.8 in September, data released Friday showed. Economists had forecast an improvement to 74.
Richard Curtin, the survey’s chief economists explained the downturn:
Consumer sentiment has remained for the past three months at the lows first recorded in response to last year’s shutdown of the economy. The Delta variant, supply chain shortages, and reduced labor force participation rates will continue to dim the pace of consumer spending into 2022. There is another, less tangible factor that has contributed to the slump in optimism: confidence in government economic policies has significantly declined during the past six months.
Just 19 percent of consumers have a favorable view of President Joe Biden’s economic policies, down from a high-water mark of 31 percent in April. Unfavorable evaluations now stand at 48 percent, up from 32 percent in April, Curtin said.
The public’s loss of confidence is widespread. According to Curtin, the decline was recorded across all age, income, and education subgroups as well as among Democrats, Independents, and Republicans.
“The adage ‘never let a crisis go to waste’ mirrors the range and scale of Biden’s progressive proposals, but consumers see it as too risky a strategy,” Curtin said.
The measures of both current conditions and expectations for the future declined in the first two weeks of October, the survey showed.
(Excerpt) Read more at breitbart.com ...
"Consumer Sentiment crashes, as the idiots who elected him realize he really is trying to destroy the country."
That’ll give Chairman Xoe something to think about during his Delaware [treatment ?] weekend.
0bama said - new normal.
Walking cadavers cannot institute sane economic policies. FJB.
Somebody supported these stupid Democrat sons of bitches.
The man is clearly an economic genius!
I’m not seeing prices on things I buy go up yet, except for gasoline, but Biden is working overtime to destroy Trump’s economy. Democrats have created a fantasy world for themselves to live in. I watched a video on how as long as you are woke you are immune to criticism, and you can check it out in crawler link top of page at Whatfinger News. Contrary to what leftists believe thinking Americans still exist and we will hold them accountable for their many crimes. A few days away from 9 months in office and Joe is still blaming Trump!
Nobody will EVER name their child Brandon again.
They actually knew he would do that before voting. Do not think for one second that what DemocRATs do is not intentional. They hate America and Americans.
FINALLY!! Our country-wide decline is showing up in polls. All across the country conservatives are shaking their heads yes. It’s about time. The leadership of Klain, Rice, nobama, valjar and others is finally beginning to bear sour fruit which has a rotten smell. Thank goodness people are watching.
F Joe Biden
Let’s Go Brandon!
Actually no, we are a victim of election theft and not just the presidency but also the House and Senate as proven by the razor thin margins in both.
Yep. And we serfs just have to bend over and take it. /sarc
horse manure!!!! His policies are the polar opposite of what is good for the country. As I said about Obama: you know his intentions are bad because even a complete moron gets something right every now and then, just by accident. . . same thing applies to Biden
Do you eat food?????
Yeah, I have zero confidence that the D’s won either Senate seat in GA last year, let alone both.
They were at least very good at what they did. A great session band for 30 years.
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