General World News

8 of 10 consumers: “Economy is on the wrong track”

Roughly eight in 10 consumers participating in a recent survey are frustrated with the housing market, inflation and the increasingly worsening economy — reflecting record-setting dissatisfaction from respondents of Fannie Mae‘s Home Purchase Sentiment Index (HPSI).

The index, which tracks consumer confidence in the housing market, fell 3.4 points from May to June, dropping to 64.8 — its second-lowest reading in a decade. Compared with the same period last year, the index is down 14.9 points.

“In June, a survey-record 81% of consumers reported that the economy is on the wrong track, suggesting to us, and corroborated by other recently released consumer confidence details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com