And the University of Michigan’s Surveys of
Consumers reported that sentiment declined
slightly this month, and remained far below
where it was before the pandemic struck. With
the resurgence of the virus depressing the
outlook of consumers, the sentiment index fell
to its lowest point since August.
“Gloomier consumer expectations will weigh on
spending as the holidays approach,” cautioned
Kathy Bostjancic, chief U.S. financial economist
at Oxford Economics.