Consumer Behavior

Consumer sentiment dips to record low

Photo by istock.com

June 29, 2022

Consumer sentiment in June fell to 50.0 from 55.2 in May due to increasing fear of an economic slowdown and high inflation taking place.

The statistic is from a University of Michigan annual survey.

The news comes as consumers are facing high gas prices as well as increasing prices at supermarkets, according to a Reuters report. Rising interest rates are also a factor.