UMich Survey Sees 'Current Conditions' In America As The Worst In 47 Years

The final print for UMich's sentiment survey for December was a doozy...

While the headline sentiment gauge and Expectations ticked up, Current Conditions slipped further...

...to an all-time record low... yes... worse than during Oct 1987's crash, 9/11, the GFC, and COVID...

This - as you might guess - is very unusual with stocks at record highs and as we have labored extensively this year, UMich's survey seems rife with bias

UMich claims that post-pandemic frustration with high prices persists...

Which is incredible since inflation expectations are plunging...

As Democrats realize their TDS-driven hyperinflation fears were utter bullshit after all (shame on all those MSM pundits)...

Buying conditions for durable goods fell for the fifth straight month, whereas expectations for personal finances and business conditions rose.

"Despite some signs of improvement to close out the year, 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.

Labor market expectations lifted a bit this month, though a solid majority of 63% of consumers still expects unemployment to continue rising during the next year.

Hsu concludes: "This year, we saw a spike in inflation expectations that softened very quickly, while high-price mentions have remained consistently high. It appears that consumers have yet to internalize the post-pandemic level of prices as a new normal, which influences how they view the economy."

Source: Zero Hedge