US EditionUS consumer sentiment dives to a record low in April amid Iran war
Consumers’ inflation expectations jumped to 4.8% as the index fell 11% from March, the University of Michigan said.
- On Friday, the University of Michigan reported consumer sentiment plunged 11% to 47.6, marking the lowest level since the post-World War II era.
- The U.S.-Israeli war with Iran sent oil prices surging more than 30%, pushing national average gasoline prices above $4 a gallon for the first time in more than three years.
- Year-Ahead inflation expectations surged to 4.8% this month, the largest monthly jump in a year, with sentiment setbacks spanning all age, income, and political groups.
- Households are likely to curb discretionary spending and delay purchases as the expectations index reaches its weakest level since 1980, risking slower economic growth.
- Consumers Director Joanne Hsu noted sentiment may improve once supply disruptions from the Iran conflict end, though analysts caution that global energy markets could take months to normalize.
55 Articles
55 Articles
Consumer sentiment sinks to all-time low amid cost-of-living stress from Iran war
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The new inflation numbers were as bad as expected . But a closely watched University of Michigan survey on consumer sentiment, also released on Friday, might be worse. The survey found that consumer confidence in April fell to its lowest level on record, reports the Hill . The main index came in...
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Consumer sentiment is now at its lowest point in its 74-year recorded history, amid a soaring cost of living, skyrocketing energy prices and President Donald Trump’s war in Iran.Sentiment dropped by double digits, “lower than anything seen in the post World War II era, including during the Great Recession, the pandemic downturn and the historic inflation surge afterward,” CNN reported. It’s also worse than one year ago, when President Donald Tru…
US Consumer Sentiment Crashes to Record Low: University of Michigan
The war in Iran dragged consumer confidence to a historical low this month amid increasing concerns about inflationary pressures. The University of Michigan’s preliminary April Consumer Sentiment Index, released on April 10, declined 11 percent to an all-time low of 47.6. This is down from the previous month’s final reading of 53.5 and below the market estimate of 52. April’s downturn reflected a sharp 20 percent plunge in expected business cond…
Trump, Iran war to blame as Americans give historically low verdict in new survey
President Donald Trump and the Iran war are being blamed as consumer sentiment plummeted to a new low, CNBC reports. The University of Michigan survey on Friday showed that consumer confidence sank to a record low in April, driven by fears over spiking energy prices and the overall impact of the war.
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