Consumer outlook for household finances falls to lowest since 2011: Survey
The University of Michigan’s monthly consumer sentiment survey showed households feel glum amid concerns about unemployment and inflationU.S. consumers have rarely felt worse about their economic futures, according to data released Friday from the University of Michigan's widely followed Surveys of Consumers.
Consumers’ five-year outlooks for their household finances fell to the lowest in over a decade in October, preliminary results of the monthly survey found. With an index reading of 96, it's the worst month since at least July 2011, when the survey resumed asking the question about the five-year outlook.