The further decline in the University of Michigan consumer sentiment index in July adds to the evidence that consumers are increasingly struggling with high interest rates. Although the link between confidence and consumption has been loose in recent years, the weak level of sentiment raises the risk that consumption growth will remain muted, after what appears to have been a soft first half of the year.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.