Consumer Sentiment Not Following Through With the Reopening in the US
Skerdian Meta•Friday, June 26, 2020•1 min read
The consumer sentiment deteriorated considerably in March and April, as the lock-downs began. Consumer spending declined by more than 20% combined during those two horrible month, when life stopped. We saw a slight improvement in May and further improvement this month, but the v-shape recovery many were hoping for looks pretty far to the pre-covid levels.
Consumer Sentiment From the University of Michigan
- U Mich June consumer sentiment 78.1 vs 79.2 expected
- Prelim reading was 78.9
- May consumer sentiment was 72.3
- Expectations 72.3 vs 73.1 prelim
- Current conditions 87.1 vs 87.8 prelim
Economists were expecting an uptick from the preliminary data. But, the revisions took us even lower for all the components, as well as the headline. Perhaps July will be better, but the situation with protests and threats of re-closing in some states such as Texas will dampen the sentiment again.
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Skerdian Meta
Lead Analyst
Skerdian Meta Lead Analyst.
Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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