The Happiness Index: A More Accurate Predictor Than GDP? A recent report from Goldman Sachs has economists and policymakers struggling to understand why consumer sentiment is plummeting, despite a solid economy.
The University of Michigan's index has hit record lows this year, with 77% of respondents reporting they are "not too happy" or "unhappy.
" This decline in happiness cannot be attributed solely to inflation or economic woes, according to Goldman economist Joseph Briggs. Since the pandemic, overall happiness has been on a downward trend.