US Consumer Sentiment Hits Record Low in April
The University of Michigan reported consumer sentiment fell to an all-time low of 49.8 this month. Households remain concerned over rising energy and commodity costs.
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Consumer confidence in the United States plunged to a historic low in April as households grappled with the inflationary consequences of the ongoing conflict with Iran. Despite the extension of a ceasefire, the University of Michigan’s Consumer Sentiment Index fell to a final reading of 49.8, the lowest level ever recorded. While this figure was slightly higher than the mid-month estimate of 47.6, it represents a significant drop from the 53.3 recorded in March.
