US Consumer Sentiment Has Fallen 30% Since Last December

The good news for the US economy is that consumer sentiment rose in December. The bad news is it rose by less than expected, with Americans remaining depressed over affordability concerns (despite a certain someone’s claim it’s all a “hoax”). The University of Michigan’s final December sentiment index climbed 1.9 points to 52.9, while the median estimate in a Bloomberg survey of economists called for a reading of 53.5.

Then there’s the worse news: “Sentiment remains nearly 30% below December 2024, as pocketbook issues continue to dominate consumer views of the economy,” Joanne Hsu, director of the survey, said in a statement.