Goldman Sachs Economist Links Weak Consumer Sentiment to Broader Societal Unhappiness

Consumer sentiment in the United States has remained weak even as broader economic indicators point to continued stability, according to a report by CNBC published Sept. 19, 2026.

Joseph Briggs, an economist at Goldman Sachs, said that persistent pessimism across society may be contributing to the disconnect between how consumers feel and how the economy is actually performing, CNBC reported.

According to the report, Briggs pointed to "lower happiness" as one possible explanation for why consumer sentiment readings have lagged behind other measures of economic health, even though the economy has continued to grow.

The report did not detail specific sentiment index figures or additional data cited by Briggs to support his assessment. CNBC's report characterized the phenomenon as a gap between measurable economic conditions and public perception of those conditions.

Consumer sentiment surveys are widely used by economists and policymakers as an indicator of how households view current and future economic conditions, and are sometimes seen as a predictor of future spending behavior.

Further details on the scope of Briggs' analysis, including any long-term trends in happiness data referenced, were not included in the available report.