Source: University of Michigan Surveys of Consumers, monthly index of consumer sentiment, retrieved from FRED (series UMCSENT) through July, with the August reading of 51.7 and the preliminary September reading of 47.8 as reported by Sharespective. The chart is a monthly line from the start of the year before the pandemic to this September, on a zero baseline. Annotated points: 101.0 just before the pandemic, 50.0 as the low of the years before this one, 44.8 in May this year as the lowest in the series, and 47.8 for September, which is a preliminary reading.
    

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