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For A Nation Of Spendthrifts, Americans Are A Gloomy Bunch
Just 16% of US consumers expect their income gains to outrun inflation over the next year.
That's according to the final read on University of Michigan sentiment for May. 80% of Americans said it was a bad time to buy a house, blaming both high rates and high prices.
The headline sentiment index moved up from the preliminary print, but at 59.2, was nevertheless indicative of economic angst.
The expectations gauge was likewise revised a bit higher from this month's early read, but at 55.4, i
I wonder if it’s still keeping up with the Joneses that powers the middle class… or maybe YOLO is now a better description for their consumption addiction?