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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.
May 8, 10:45 AM·1m read2 sources
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The 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.
