Consumer sentiment: another look into economic recovery
The latest survey on consumer sentiment from the University of Michigan comes out today, following news of high inflation earlier this week. Inflation was one of consumers’ top concerns in last month’s survey.
Still, consumer outlooks rose in June and are expected to have risen again in July. Higher income people surveyed last month were optimistic about the year ahead. Survey researchers have warned, however, that lower income groups and older people could feel the effect of inflation first.
One question in the consumer sentiment survey asks people about the big things they buy for their homes, like furniture, TVs and stoves. If researchers got Mary Johnson on the phone, she’d have a lot to say on the topic.
“My refrigerator died last summer. So I ordered the same thing I had, I just wanted to replace it,” said Johnson, a policy anaylst with the Senior Citizen’s League. “And then…