UMich Sentiment ‘Expectations’ Plunge Near Record Lows As Republicans Lose Faith, Inflation Fears Rebound
After July’s rebound to pre-war levels, a re-escalation in the MidEast (and soaring fuel costs) sent confidence back towards YTD lows. Preliminary September data was expected to show UMich headline sentiment sliding further. ‘Slide’ is not exactly how we would describe preliminary September confidence data’s collapse (headline from 51.7 to 47.8 vs 51.0 exp). The current conditions …