In Latest Sentiment Poll, Buying Conditions Are the Worst in Decades - Mish Talk

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Worst Buying Conditions in Decades 

Bloomberg reports Americans See Worst Buying Conditions in Decades on High Prices

The University of Michigan’s preliminary sentiment index edged up to 71 from 70.3 in August, data released Friday showed. The figure trailed the median estimate of 72 in a Bloomberg survey of economists.

Buying conditions for household durables, homes and motor vehicles all fell to the lowest in decades. The report said the declines were due to complaints about high prices. Consumers expect inflation to rise 4.7% over the coming year, matching the highest since 2008.

The university’s gauge of current conditions fell to 77.1, the lowest since April 2020, from 78.5. A measure of expectations rose to 67.1 from 65.1, according to the survey conducted Aug. 25 to Sept. 12.

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