Consumer sentiment at 16-year low

U.S. consumer sentiment has slipped to its lowest level since 1992, according to a University of Michigan/Reuters survey.
MAR 14, 2008
By  Bloomberg
U.S. consumer sentiment has slipped to its lowest level since 1992, according to a preliminary University of Michigan/Reuters index that tracks consumer sentiment and was released today. The index dipped to 70.5 from 70.8 in February, and the expectations index fell to 61.4, from 62.4, according to published reports. Economists in a Reuters survey that was taken before the consumer sentiment number was released estimated a March reading of 69, so the drop was a little less than was expected. Concerns of inflation from consumers rose in February to 4.5, from 3.7, in the latest index results. The current conditions index for the month did improve however to 84.6 from a February reading of 83.8.

Latest News

Blue Owl Capital, Voya strike private market partnership for retirement plans
Blue Owl Capital, Voya strike private market partnership for retirement plans

The collaboration will focus initially on strategies within collective investment trusts in DC plans, with plans to expand to other retirement-focused private investment solutions.

Top Commonwealth advisor to recruiters: Stop with the cold calls already!
Top Commonwealth advisor to recruiters: Stop with the cold calls already!

“I respectfully request that all recruiters for other BDs discontinue their efforts to contact me," writes Thomas Bartholomew.

Why AI notetakers alone can't fix 'broken' advisor meetings
Why AI notetakers alone can't fix 'broken' advisor meetings

Wealth tech veteran Aaron Klein speaks out against the "misery" of client meetings, why advisors' communication skills don't always help, and AI's potential to make bad meetings "100 times better."

Morgan Stanley, Goldman, Wells Fargo to settle Archegos trades lawsuit
Morgan Stanley, Goldman, Wells Fargo to settle Archegos trades lawsuit

The proposed $120 million settlement would close the book on a legal challenge alleging the Wall Street banks failed to disclose crucial conflicts of interest to investors.

Fintech bytes: Envestnet taps Quackenbush for C-suite role, TIFIN unveils global LLM hub
Fintech bytes: Envestnet taps Quackenbush for C-suite role, TIFIN unveils global LLM hub

Sue Quackenbush brings more than 25 years of leadership experience to "align people strategies with a growth-oriented culture" at Envestnet.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.