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Consumer Sentiment Hits Lowest Since 2022 Amid Inflation and Job Market Fears
Consumer Sentiment Hits Lowest Since 2022 Amid Inflation and Job Market Fears
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BTCCSquare news:
The Michigan Survey of Consumers reveals a stark decline in economic optimism, with October's sentiment readings plunging to levels last seen during 2022's inflationary crisis. Nearly half of respondents report significant financial strain from persistent high prices, despite a marginal dip in inflation expectations.
Labor market anxieties now compound these pressures—60% of consumers anticipate rising unemployment, while 70% express dissatisfaction with government economic policies. This dual burden of price sensitivity and job insecurity threatens to dampen consumer spending, the primary engine of US economic growth.
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