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Goldman points to lower happiness behind weak consumer sentiment

Goldman economist Joseph Briggs linked the slump in sentiment to broader social pessimism even as the economy remains strong, according to CNBC Economy.

Reported · Written up by our desk · North America

Goldman Sachs is attributing weak consumer sentiment to what it calls “lower happiness,” suggesting that broader pessimism in society is weighing on how consumers feel.

In comments cited by CNBC Economy, economist Joseph Briggs said the downtick in sentiment can persist even when the economy is still performing well.

The outlet reports that the firm sees consumers as reacting not only to economic conditions, but also to changes in overall outlook and mood.

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