UMich Sentiment Survey Collapses To 11-Year-Lows, Inflation Expectations Surge
After disappointingly tumbling to COVID crisis lows in October, analysts expected UMich sentiment to rebound modestly in preliminary November data led by a pick-up in ‘expectations’ (or hope). However, analysts were wrong – very wrong!
UMich headline sentiment plunged from 71.7 to 66.8 (way below the 72.5 expected) – that is the lowest since 2011. Both ‘current conditions’ and ‘expectations’ also plunged in preliminary November data – despite a stock market that is surgiung to fresh highs day by day.
Source: Bloomberg
Buying Conditions crashed to new cycle (multi-decade) lows (after a very brief rebound in home-buying conditions in October)…
Source: Bloomberg
Finally, and most importantly, short-term inflation expectations surged to a new cycle high – the highest since 2008…
Source: Bloomberg
What a shitshow!
Tyler Durden Fri, 11/12/2021 – 10:08
Source: http://freedombunker.com/2021/11/12/umich-sentiment-survey-collapses-to-11-year-lows-inflation-expectations-surge/
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