by John Carney
Breitbart.com
Consumer sentiment fell in January for the first time in six months, with inflation concerns and a sharp drop in perceptions of current conditions among Democratic voters driving the decline.
The University of Michigan’s sentiment index dropped to 71.1, its lowest in three months, from 74 in December. The decline was more pronounced than preliminary data suggested, underscoring growing unease about the economy’s trajectory.
Consumers reported feeling better about their personal finances and said incomes were stronger. But assessments of business conditions, the labor market, and economic growth slumped.
“While assessments of personal finances inched up for the fifth consecutive month, all other index components pulled back,” the director of the survey, Joanne Hsu, said in a statement.