US Consumer Sentiment Lowest in 16 Years
March 28, 2008
The University of Michigan Sentiment, a monthly academic survey that provides insight into US consumer sentiment, showed confidence is currently at a 16 year low. With a figure of 69.5 coming against a market expectation of 70.0, the survey gives credence to the argument that the US may indeed be in the midst of a recession. Despite the low numbers, the markets as a whole were slow to react at all, given the fact that many investors have already come to terms with this idea.