finance
U.S. Consumer Sentiment Index Falls to Record Low of 48.2 in May
The University of Michigan Consumer Sentiment Index declined 1.7 points in May to 48.2, the lowest reading on record. Current economic conditions fell 4.7 points to 47.8, also a record low. The index now stands 13 percent below its low during the 2008 financial crisis.
May 9, 3:14 PM·1m read3 sources
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This marks the lowest level recorded for the index. Current economic conditions dropped 4.7 points to 47.8, also setting a record low. The perceived financial situation among Americans declined to its lowest level since 2009. The index now stands 13 percent below its low point during the 2008 financial crisis. By comparison, the index reached a low of about 52.0 during the 1980s recession.
The data indicate consumer sentiment has reached levels last associated with major economic downturns. The index has fallen steadily in recent months amid ongoing concerns over inflation, employment, and household finances.
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