
Happiness slump drags down U.S. consumer sentiment, Goldman Sachs argues
Goldman Sachs argues that depressed U.S. consumer sentiment is driven not just by prices but by a broader happiness decline and waning trust in public institutions, citing record-low Michigan sentiment readings and General Social Survey data showing happiness hasn’t recovered since the pandemic. The bank notes that sentiment can diverge from GDP and markets, and that affordability concerns cited in a Guardian poll may reflect non-economic factors weighing on confidence.













