A summary of comments from Consumers Director Joanne Hsu
Consumer sentiment rose for the fifth consecutive month, reaching its highest level since April 2024.Buying conditions improved by 32%, driven by expectations of future price increases for large purchases.Expectations index showed:Improvement among Republicans.Decline among Democrats.Stability among Independents.Consumers recognize economic improvements as inflation slows but do not feel they are thriving.Sentiment remains midway between the June 2022 all-time low and pre-pandemic levels.Year-ahead inflation expectations increased to 2.8%, the first rise since May, but within pre-pandemic ranges (2.3%-3.0%).Long-term inflation expectations declined slightly to 3.0%, modestly elevated compared to pre-pandemic levels.The survey data can be politically influenced. Therefore not surprised to see the Republicans are on the up and up and the Democrats are on a decline. Independents are neither happier or sadder.
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