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Discussion Paper

Tracking consumer sentiment versus how consumers are doing based on verified retail purchases


Abstract: Despite low unemployment, moderating inflation and anchored inflation expectations, and rising incomes since mid-2022, surveys at the end of 2024 continued to report that consumer sentiment remained unusually low, below levels at the onset of the pandemic and on par with levels during the Great Financial Crisis. Why was there this discrepancy between consumer sentiment and the real economy?

https://doi.org/10.17016/2380-7172.3767

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File(s): File format is text/html https://www.federalreserve.gov/econres/notes/feds-notes/tracking-consumer-sentiment-versus-how-consumers-are-doing-based-on-verified-retail-purchases-20250424.html

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Bibliographic Information

Provider: Board of Governors of the Federal Reserve System (U.S.)

Part of Series: FEDS Notes

Publication Date: 2025-04-24

Number: 2025-04-24-2