Expectations and assessment of the current situation worsened
The consumer climate in the USA deteriorated more sharply than expected in January. The consumer confidence surveyed by the University of Michigan fell from the previous month by 1.7 points to 79.0 points, as the university announced on Friday after a second survey round. In a first estimate, 79.2 points were determined. Analysts had expected a revision to 79.4 points.
Both consumer expectations and assessments of the current situation have worsened. The value for the current situation has been revised downwards noticeably compared to the initial estimate.
The University of Michigan indicator is a measure of the purchasing behavior of American consumers. It is based on a telephone survey of around 500 households. Questions are asked about the financial and economic assessment of the situation and the corresponding expectations.
