US consumer sentiment remains depressed, with the University of Michigan index falling 13% YoY and 8% MoM in September 🔗. Goldman Sachs suggests the persistent disconnect between sentiment and a solid economy is driven by a broader decline in 'happiness' rather than purely economic factors 🔗. This indicates a more fundamental societal pessimism, potentially influencing future consumer behavior despite strong GDP or market performance 🔗.
Consumer sentiment is in the dumps despite a solid economy. Goldman Sachs blames ‘lower happiness’
CNBC.COMSep 19, 12:50 PM UTC
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