Consumer sentiment dips, especially among Republicans
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Consumer sentiment in the U.S. has deteriorated further in early August, according to preliminary University of Michigan data, with the sentiment index dropping 8% after two months of gains. Republicans showed the steepest decline in outlook, now at its lowest point since the 2024 election.
Consumer sentiment dips, especially among Republicans
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2 hours ago - Economy
Consumer sentiment dips, especially among Republicans
* Neil Irwin
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*Data: University of Michigan; Note: August 2026 number is preliminary; Chart: Neil Irwin/Axios*
Public opinion about the economy appears to be souring further this month, per the preliminary release of the University of Michigan's consumer sentiment index.
**By the numbers:** Overall sentiment fell 8% in the early days of August, after two consecutive months of improvement.
* The index fell to 51, from 55.2 in July. That remains above the recent lows reached in the spring, when gasoline prices were soaring.
* Inflation expectations were stable, with expected inflation over the next year ticking up to 4.3% and over the next five years unchanged at 3.3%.
**The intrigue:** The steepest month-to-month drop in sentiment was among survey respondents who identify as Republicans, with their outlook now 19% below readings from just before the Iran war and at the lowest since the 2024 election.
**What they're saying:** "Although the early-month weakening in sentiment was pervasive across various demographic groups, notably large reductions were seen among older consumers, lower-income consumers, and those without a college degree," said Joanne Hsu, director of the Michigan survey.
* "These groups are all particularly vulnerable to any erosion of purchasing power stemming from inflation," she added.
* "Across all consumers, only 8% expect their income growth to exceed inflation in the year ahead, down from 18% in December 2024, a reflection of the belief that high prices will continue to be burdensome."
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2 hours ago - Economy
Consumer sentiment dips, especially among Republicans
* Neil Irwin
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*Data: University of Michigan; Note: August 2026 number is preliminary; Chart: Neil Irwin/Axios*
Public opinion about the economy appears to be souring further this month, per the preliminary release of the University of Michigan's consumer sentiment index.
**By the numbers:** Overall sentiment fell 8% in the early days of August, after two consecutive months of improvement.
* The index fell to 51, from 55.2 in July. That remains above the recent lows reached in the spring, when gasoline prices were soaring.
* Inflation expectations were stable, with expected inflation over the next year ticking up to 4.3% and over the next five years unchanged at 3.3%.
**The intrigue:** The steepest month-to-month drop in sentiment was among survey respondents who identify as Republicans, with their outlook now 19% below readings from just before the Iran war and at the lowest since the 2024 election.
**What they're saying:** "Although the early-month weakening in sentiment was pervasive across various demographic groups, notably large reductions were seen among older consumers, lower-income consumers, and those without a college degree," said Joanne Hsu, director of the Michigan survey.
* "These groups are all particularly vulnerable to any erosion of purchasing power stemming from inflation," she added.
* "Across all consumers, only 8% expect their income growth to exceed inflation in the year ahead, down from 18% in December 2024, a reflection of the belief that high prices will continue to be burdensome."
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Tags:#الاقتصاد الأمريكي#معنويات المستهلكين#التضخم#الانتخابات الأمريكية#الاقتصاد الكلي#الأسواق
Source: Axios
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