Ernie Tedeschi: U.S. consumer sentiment remains much weaker than in 2019

Ernie Tedeschi: U.S. consumer sentiment remains much weaker than in 2019
U.S. consumer sentiment weaker than 2019

U.S. consumer sentiment remains significantly weaker than in 2019, according to Ernie Tedeschi.

Tedeschi said that even after adjusting for online survey methods and considering shifting political affiliation, sentiment is still about one third lower than its 2019 level.

Tedeschi previously noted that computers and software have added 25 basis points to core PCE inflation, though he said they are not the main factor behind the current inflation gap (link). In a separate analysis, Tedeschi reported that California has continued to achieve stronger GDP and productivity growth than the U.S. overall (link). His recent comments on sentiment follow several data-focused posts in recent months.

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