US Consumer Sentiment Dips On Lower-Middle-Income Despair

Posted by: : Paul EbelingPosted on: January 21, 2014 US Consumer Sentiment Dips On Lower-Middle-Income Despair

US Consumer Sentiment Dips On Lower-Middle-Income Despair

US consumer sentiment dipped in its 1st measure of 2014, weighed down by lowered expectations among lower-and middle-income families, a survey released Friday showed.

The Thomson Reuters/University of Michigan’s preliminary reading on the overall index on consumer sentiment came in at 80.4, down from 82.5 in December.

It was below the median forecast of 83.5 among economists polled.

“Upper-income households benefited from continued strong gains in income as well as increases in stock and home values,” the survey director said in a statement.

“Low-and middle-income households were mainly concerned about lackluster growth in employment and income, and anticipated less improvement in long-term prospects for the economy.”

The survey’s barometer of current economic conditions fell to 95.2 from 98.6 and below a forecast of 98.5.

The survey’s gauge of consumer expectations slipped to 70.9 from 72.1 and below a forecast of 74.2.

The survey’s 1-yr inflation expectation was unchanged from last month at 3.0%, while the survey’s 5-to-10-yr inflation outlook rose to 2.9% from 2.7%.

Stay tuned…

HeffX-LTN

Paul Ebeling

 

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Paul Ebeling

Pattern Recognition Analyst, equities, commodities, forex
Paul Ebeling is best known for his work as writer and publisher of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly-regarded, weekly financial market letter, where he enjoys an international audience among opinion makers, business leaders, and respected organizations. Something of a pioneer in online stock market and commodities discussion and analysis, Ebeling has been online since 1994. He has studied and worked in the global financial and stock markets since 1984.
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