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    Home ยป US Consumer Sentiment Plunged 4.8% to the Lowest Level since November 2011
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    US Consumer Sentiment Plunged 4.8% to the Lowest Level since November 2011

    January 28, 20221 Min Read
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    US consumer sentiment dropped 4.8% to 67.2 in January, decreasing 14.9% year over year.

    • The gauge of current economic conditions dropped 3.0% to 72.0, falling 17.0% year-over-year.
    • Richard Curtin, chief economist Survey of Consumers, stated the current slump was due to two sharp declines separated by an interval of rising optimism.
    • Curtin further stated that the initial steep decline occurred in two months, a 28.9% fall in optimism from February to April 2020 due to a slowdown in the economy.
    • The index of Consumer Expectations dropped 6.1%, falling 13.4% year-over-year.
    • Confidence posted an equally strong bounced back starting late-2020, surging 23.0% by April 2021. The upward trend was reversed over the last nine months, with the Sentiment Index dropping by 23.9%.

    Overall confidence in government economic policies is at its lowest point since 2014, and the major geopolitical risks might add to the pandemic-driven challenges.

    DXY up +0.02%, EUR USD up +0.03%

    Source: Surveys of Consumers

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