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Consumer sentiment declines to another new record low as Americans fret over Iran war
The University of Michigan’s latest consumer survey, released Friday, showed sentiment fell early this month to a preliminary reading of 48.2, the lowest on records going back to 1952. Sentiment had previously reached its lowest point just last month, below anything seen during the Great Recession, the pandemic, and the inflation surge afterward.“About one-third of consumers spontaneously mentioned gasoline prices and about 30% mentioned tariffs,” said Joanne Hsu, the survey’s director, in a release. “Taken together, consumers continue to feel buffeted by cost pressures, led by soaring prices at the pump.”
