Morning Consult is out with its Index of Consumer Sentiment (ICS), putting it at "105.09, the lowest the ICS has been since Morning Consult began tracking over two years ago. Since Friday, the ICS fell 3.58% over the weekend and is down 8.27% since January 1."
Some details from the report:
• "Personal Finances: Current Conditions – 27% of respondents believe they are worse off financially than 12 months ago, which is the second highest daily value recorded since January 2018. The all-time high is 28%, which occurred in December 2018 and January 2019."
• "Personal Finances: 12 Month Expectations – 15% of respondents expect to be doing worse off financially 12 months from now, the highest daily value recorded since Jan 2018."
• "Business Conditions: 12 Month Expectations – 30% of respondents expect business conditions in the country as a whole to be bad over the next 12 months, the highest daily value recorded since Jan 2018."
• "Business Conditions: 5 Year Expectations – 40% of respondents expect periods of widespread unemployment or depression in the next five years, the highest daily value recorded since Jan 2018. Very similar to January 2019."
• "Current Buying Conditions – 18% of respondents said now is a bad time to make a major household purchase, the highest daily value recorded since Jan 2018."
- KC's View:
These numbers actually are a little better than I might've expected. Let's see what they look like in a month…