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Consumer sentiment at record low as Americans feel impact of war in Iran
US consumer sentiment showed some improvement amid a two-week ceasefire between the US and Iran, but it's still at record lows, according to new data from the University of Michigan. The Index of Consumer Sentiment showed consumer sentiment ended April with a final reading of 49.8, above the 48.5 reading economists expected but marking the lowest level on record — below readings taken during the financial crisis, the COVID-19 pandemic, and when inflation spiked following Russia's invasion of Ukraine. Overall, consumer sentiment fell 6.6% from last month and 4.6% from a year ago. The ceasefire in the Middle East ... (full story)
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The University of Michigans final April sentiment index dropped to 49.8 this month from 53.3 in March. While that was slightly improved from the preliminary reading, it remained the lowest in data back to 1978. Mike McKee reports on "Bloomberg Open Interest."
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Americans still feel lousy about the economy and worry that the US-Israeli war with Iran will continue to push up prices. The University of Michigans final consumer sentiment reading for April measured 49.8, a slight improvement from the preliminary report earlier this month but still at the lowest level ever on records that go back to 1952. The Middle ...