U.S. Consumer Sentiment Index Falls to 48.2 in May
The University of Michigan’s consumer sentiment index dropped to 48.2 in May from 49.8 in April, according to data released on May 08, 2026. The survey found Americans remain pessimistic about the economy amid rising costs linked to the Iran war, including higher gas prices. The university stated that further ceasefire talks with Iran are unlikely to improve views unless fuel costs decline.
ForbesThe University of Michigan’s Surveys of Consumers recorded a preliminary May reading of 48.2, down from 52.4 in April and marking the second consecutive month at a record low. The index has not exceeded 100 since 2018.
The survey, released on May 8, 2026, measures Americans’ views on current economic conditions and short-term expectations. According to the University of Michigan, the latest decline reflected continued pessimism about inflation, personal finances and business conditions.
The report stated that further ceasefire talks with Iran are unlikely to boost optimism unless surging gas prices cool. The Forbes article reporting the data noted that economic optimism has continued to decline even as diplomatic efforts regarding Iran proceed.
No additional primary-source quotes from federal officials, the University of Michigan survey methodology details, or specific energy-price figures beyond the survey’s summary were included in the source materials used for this rewrite.
Key Facts
Story Timeline
5 events- May 8, 2:03 PM ET
1 new source added: Forbes
1 sourceForbes - 2026-05-08 10:43am EDT
Forbes publishes article on University of Michigan May consumer sentiment data by Ty Roush
1 sourceForbes - 2026-05-08
University of Michigan releases consumer sentiment survey for May showing reading of 48.2
1 sourceUniversity of Michigan - 2026-04-30
University of Michigan reported April consumer sentiment reading of 49.8
1 sourceUniversity of Michigan - 2018
Last time University of Michigan consumer sentiment reading was above 100
1 sourceUniversity of Michigan
Potential Impact
- 01
Persistent high gas prices linked to Iran war are cited as primary driver of pessimism
- 02
Record low sentiment levels not seen since before 2018 could affect broader economic confidence indicators
- 03
Continued decline in consumer views on the economy may signal weaker consumer spending in coming months
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