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The Economist

The pandemic has broken a closely followed survey of sentiment

Americans' opinions about the state of the economy have diverged from reality, as consumer sentiment hits its lowest level ever. The pandemic has disrupted the predictive power of the University of Michigan's survey of sentiment.

Americans' opinions about the state of the economy have diverged from reality.
Consumer sentiment hit its lowest level ever in June 2022.
The pandemic has disrupted the predictive power of the University of Michigan's survey of sentiment.
The correlation between sentiment and current/future spending has vanished since COVID-19.
The gap between sentiment and economic reality has stabilized after growing steadily from 2020-2022.

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