UM consumer sentiment index drops in June

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UM consumer sentiment index drops in June

STORY: UM consumer sentiment index drops in June DATELINE: June 15, 2022 LENGTH: 00:00:34 LOCATION: NEW YORK, U.S. CATEGORY: ECONOMY SHOTLIST: 1. various of a supermarket in New York 2. various of city views in New York STORYLINE: According to the University of Michigan (UM), the Consumer Sentiment Index fell to 50.2 in June, a 14 percent decline from May. The figure is down from 58.4 in May and below last June's 85.5. All components of the sentiment index fell this month. The steepest decline is registered in the year-ahead outlook in business conditions, down 24 percent from May. Furthermore, consumers continued to express negative views on their personal financial situation, primarily due to inflation concerns. Xinhua News Agency correspondents reporting from New York, U.S. (XHTV)

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