CSI Report Shows Consumers’ Confidence Fell Sharply in January

University of Michigan’s Consumer Sentiment Index (CSI), released January 28, fell 4.8%, hitting a level not seen since November 2011. Households under $100k income held a more pessimistic view, dropping by 9.4%. Consumers overwhelmingly (75%) stated that inflation and falling real incomes are their primary concerns, but other influences included continuing Omicron impacts and geopolitical risks. U. Michigan’s Richard Curtain stated that, “Household spending has been supported by an extraordinary pace of rising home and stock prices that is likely to turn negative in the year ahead.”

Click here to read more.