US Consumer Sentiment Drops to Near Four Year Low
The University of Michigan index fell to 49.8 in April as gasoline prices and inflation concerns weighed on households. High energy costs remain a primary factor.
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Consumer confidence in the United States has plummeted to its lowest point in nearly four years as geopolitical instability in the Middle East continues to fuel domestic inflation concerns. According to the latest data from the University of Michigan, the Consumer Sentiment Index fell to a final reading of 49.8 for April, marking the weakest level since June 2022. While this figure surpassed the initial mid-month estimate of 47.6 and beat economist expectations of 48.0, it remains significantly lower than the 53.3 recorded in March.
