The Biden Economy

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U.S. Consumer Sentiment @ Six-Month Low

The University of Michigan's most recent survey of consumer sentiment indicates that consumer sentiment in U.S. fell sharply to a six-month low of 57.7 in May of 2023 from 63.5 in April, well below forecasts of 63, amid renewed concerns about the trajectory of the economy, preliminary estimates showed. The expectations gauge declined to 53.4 from 60.5 and the current economic conditions subindex fell to 64.5 from 68.2.