More than 25 million Americans have applied for unemployments benefits in just the past month and a half.

"Consumers' reactions to relaxing restrictions will be critical, either putting further pressure on states to reopen their economies, or exerting added pressure to extend the restrictions even if it has negative consequences for economic prospects," said Richard Curtin, chief economist for the Surveys of Consumers, in a statement. “Job losses are the most vivid demonstration of the new reality. The survey's index of consumer sentiment fell to 71.0 in the two weeks ended April 7, from 89.1 for the previous four weeks. The percentage drop in the index month over month was 19.4%, and the year-over-year drop was 26.1%.Month over month, the consumer expectations subindex tumbled 9.6 points, from 79.7 to 70.1 (down 12.0%), while the current conditions subindex decreased from 103.7 to 74.3 (down 28.4%).Year over year, the current conditions subindex fell by 33.8% and the consumer expectations subindex retreated 19.8%.The survey’s chief economist, Richard Curtin, noted, “In the weeks ahead, as several states reopen their economies, more information will reach consumers about how reopening could cause a resurgence in coronavirus infections.

That looks great on paper, but still remains below pre-COVID-19 levels. Consumer sentiment retreated in the first half of July due to the widespread resurgence of the coronavirus. Australia Westpac Consumer Sentiment Index April 2020: Australia’s consumer sentiment index slumped 17.7% in April to 75.6, hit by COVID-19, said Westpac–Melbourne Institute in its latest report on Wednesday.. The University of Michigan's consumer sentiment for the US was revised lower to 72.3 in May of 2020 from a preliminary reading of 73.7 and remaining very close to an eight-year low of 71.8 reported in April.

The disease is also Search engine behemoth Google reported second-quarter earnings...The stock market doesn’t seem to care what day of the week...Source: bobbyuzda / Getty Images 15. The University of Michigan Consumer Sentiment Index plunged month over month from a March reading of 89.1 to April’s final level of 71.8. Consumer expectations decreased to 79.7 last month from 92.1 the month before. Data is a real-time snapshot *Data is delayed at least 15 minutes.
Economists polled by Bloomberg were expecting a final April reading of 68.0.The final index reading in April of last year was 97.2. In February, it was 101. The University of Michigan Consumer Sentiment Index fell to 89.1 last month. Economists polled by Dow Jones expected a print of 67.

The consumer sentiment index fell to 71.8 in April from 89.1 in March. The final reading of the consumer-sentiment survey in April edged up to 71.8 from an initial 71, Still, the decline in the index from March to April was the biggest ever and reflects an economy already in recession. The University of Michigan had noted it would drop more because of less household income and heightened unemployment per the March report.The Commerce Department had noted that consumer spending was higher by 0.2 percent in February as consumers spent on fuel and electricity.Staying home 24/7 has consumers turning to subscription services for both entertainment and their day-to-day needs.

Economists polled by Dow Jones expected a print of 67. April 24, 2020 12:48 pm The University of Michigan Consumer Sentiment Index plunged month over month from a March reading of 89.1 to April’s final level of 71.8. Economists polled by Dow Jones expected a print of 67. April 24, 2020 12:48 pm The University of Michigan Consumer Sentiment Index plunged month over month from a March reading of 89.1 to April’s final level of 71.8.

In the latest Sign up for the PYMNTS.com Newsletter to get updates on top stories and viral hits.Subscription Commerce Conversion Index – July 2020 The COVID-19 pandemic has affected every aspect of American life. Economic Report Consumer sentiment stabilizes at end of April — are unrealistic hopes for a quick recovery a factor? That was its lowest level as of October 2016.

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