US consumer sentiment plunges in February on tariff worries
Source: Reuters, via Yahoo! Finance
Reuters
US consumer sentiment plunges in February on tariff worries
Reuters
Fri, February 21, 2025 at 10:27 AM EST 1 min read
(Reuters) - U.S. consumer sentiment dropped more than expected in February to a 15-month low and inflation expectations rocketed as households worried that President Donald Trump's plans for steep and broad-based tariffs would eat into their purchasing power.
The University of Michigan Surveys of Consumers on Friday said its Consumer Sentiment Index dropped to 64.7 from January's revised final reading of 71.7. The reading, the lowest since November 2023, was lower than the preliminary reading of 67.8, which was also the consensus expectation among economists polled by Reuters.
Meanwhile households saw inflation over the next year surging to 4.3% - the highest since November 2023 - from 3.3% last month. That was unchanged from the preliminary reading two weeks ago.
Over the next five years households saw inflation running at 3.5% - the highest since 1995 - compared with 3.2% in January. That was up from the preliminary reading two weeks ago for 3.3%.
(Reporting By Dan Burns; Editing by Chizu Nomiyama)
Read more: https://finance.yahoo.com/news/us-consumer-sentiment-plunges-february-152726421.html
This is already in GD.
Hat tip, mobeau69
Ouch. UM Consumer Sentiment weaker than expected.
https://www.democraticunderground.com/100220056057
Fri Feb 21, 2025
= new reply since forum marked as read
The red dot is the latest report: 64.7. The solid black line is the 3-month moving average. They apparently place the 3-month moving average in the middle of the three, so that's why there's no 3-month moving average for February. (The dotted line is the actual monthly numbers)/
Notice today's reading is the lowest in the entire history of the graph, which begins in 1992, with the exceptions of the housing bubble crash period and around the beginning of 2012, which I have no idea what caused that, and the high inflation period in 2022 and early 2023.
https://data.sca.isr.umich.edu/data-archive/mine.php
(it goes way way back, I just included the following to show what the two recent peak points on the graph are -progree)
1 2023 64.9
2 2023 66.9
3 2023 62
4 2023 63.7
5 2023 59
6 2023 64.2
7 2023 71.5
8 2023 69.4
9 2023 67.8
10 2023 63.8
11 2023 61.3
12 2023 69.7
1 2024 79
2 2024 76.9
3 2024 79.4 (Local high point -progree)
4 2024 77.2
5 2024 69.1
6 2024 68.2
7 2024 66.4
8 2024 67.9
9 2024 70.1
10 2024 70.5
11 2024 71.8
12 2024 74 (local high point -progree)
1 2025 71.7
2 2025 64.7 progree added this line -- from today's report