by Calculated Risk on 3/13/2020 10:06:00 AM
Friday, March 13, 2020
From the University of Michigan, Surveys of Consumers chief economist, Richard Curtin:
Consumer sentiment fell in early March due to the spreading coronavirus and the steep declines in stock prices. … The component of the Sentiment Index that posted the greatest loss involved judgements about prospects for the economy during the year ahead; this component fell by 29 points, accounting for 83% of the total point decline in early March. … While the most effective containment efforts are widespread closures and self-isolation, those same actions have the largest negative impact on the economy and significantly increase the probability that the pandemic will be followed by a recession that lasts longer than the virus.Not a huge decline - yet.
Posted by Calculated Risk on 3/13/2020 10:06:00 AM