After a run of strong economic data in recent weeks, the wilting in consumer sentiment in July may be the start of a softening trend amid a resurgence in COVID-19 cases, explained analysts at Wells Fargo following the University of Michigan Consumer Confidence report released on Friday.
Key Quotes:
“The University of Michigan’s index of consumer sentiment slumped to 73.2, a level that is less than two points above its April trough, when consumers became fully awake to COVID-19.”
“The measure for current financial situation edged slightly higher, although with the expiration of the additional $600 weekly jobless benefit approaching at the end of this month, expectations about future finances fell 11 points to 121.”
“We do not expect to see a material increase in consumer sentiment until it is widely viewed that the virus is under control.”
إخلاء المسؤولية: الآراء الواردة هنا تعبر فقط عن رأي الكاتب، ولا تمثل الموقف الرسمي لـ Followme. لا تتحمل Followme مسؤولية دقة أو اكتمال أو موثوقية المعلومات المُقدمة، ولا تتحمل مسؤولية أي إجراءات تُتخذ بناءً على المحتوى، ما لم يُنص على ذلك صراحةً كتابيًا.
اترك رسالتك الآن