US Consumer Sentiment Hits Record Low of 47.6 in April
The University of Michigan index fell to 47.6 in April as gas prices rose. Consumers expect inflation to reach 4.8 percent over the next twelve months.
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Consumer sentiment in the United States plummeted to a record low in early April as households grappled with the economic consequences of the military conflict between Israel and Iran. The University of Michigan’s Surveys of Consumers reported on Friday that its Consumer Sentiment Index tumbled to an all-time low of 47.6, a sharp decline from the final March reading of 53.3. This result fell well below the 52.0 level predicted by economists in a Reuters poll.
