Economic sentiment decreased over the past two weeks, a period marked by news of potential economic softening and a further Fed rate hike. The Penta-CivicScience Economic Sentiment Index (ESI) fell 0.6 points to 35.4.
Three of the ESI’s five indicators decreased over the past two weeks. Confidence in buying a new home decreased the most, falling 2.2 points to 21.7 – its second-largest single-reading decrease in more than a year.
—Confidence in finding a new job fell 1.5 points to 40.9
—Confidence in the overall U.S. economy fell 0.4 points to 35.4.
—Confidence in personal finances rose 0.1 points to 54.1.
—Confidence in making a major purchase rose 0.9 points to 24.7.
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