Consumer outlook plunged to a record low in April as fears mounted over rising energy prices and the broader impact of the Iran war, according to a University of Michigan survey Friday. The university’s headline index of consumer sentiment tumbled to 47.6, down 10.7% from March to its lowest on record. Current conditions and expectations indexes also saw double-digit monthly declines. The drop in sentiment coincided with a sharp spike in inflation expectations, with respondents seeing prices up 4.8% in a year from now, a full percentage point rise from the March reading to its highest since August 2025. Survey ... (full story)