UGLY: UMich Consumer Sentiment Plunges to 54.9, Its Lowest Reading Since May 1980

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Update:Big ol’ miss on consumer sentiment form University of Michigan.

ANalsyts were looking for 62, but it came in at 54.9. That’s also well below last months’ 63.7.

This isn’t the most reliable indicator, but markets have come off their highs noticeably.

Given all the hits lately on the economic front, who can be surprised that consumer sentiment is so bad?

Apparently it’s the lowest number since May 1980 (!).


Original post:

Final big datapoint of the week.

University of Michigan Consumer Sentiment comes out at 9:55.

Analysts expect a 62.0 reading vs. 63.7 the previous month.

Refresh the post for the latest.

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