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China tariff fight puts a damper on consumer sentiment toward end of May, survey finds
Consumer sentiment suffered a blow in the final two weeks of May after the trade spat between the U.S. and China erupted into another round of tit-for-tat tariffs. The University of Michigan's final results for consumer sentiment in May was lowered to 100 from a preliminary 102.4 reading that was the highest in 15 years. Richard Curtin, chief economist of the survey, said "confidence significantly eroded in the last two weeks of May." Some 35% of respondents "spontaneously" mentioned the new tariffs vs. just 16% earlier in the month. As a result, consumer expectations for inflation increased.
https://finance.yahoo.com/m/08bd7fb...810f/china-tariff-fight-puts-a.html?.tsrc=rss
Consumer sentiment suffered a blow in the final two weeks of May after the trade spat between the U.S. and China erupted into another round of tit-for-tat tariffs. The University of Michigan's final results for consumer sentiment in May was lowered to 100 from a preliminary 102.4 reading that was the highest in 15 years. Richard Curtin, chief economist of the survey, said "confidence significantly eroded in the last two weeks of May." Some 35% of respondents "spontaneously" mentioned the new tariffs vs. just 16% earlier in the month. As a result, consumer expectations for inflation increased.
https://finance.yahoo.com/m/08bd7fb...810f/china-tariff-fight-puts-a.html?.tsrc=rss
