Economic Buzz: Consumer Sentiment In US Declines In April

16 May 2022 , 09:10 AM

According to a report by University of Michigan, U.S. consumer sentiment has deteriorated by much more than expected in the month of May. The report showed the consumer sentiment index tumbled to 59.1 in May from 65.2 in April. The report showed the current economic conditions index slid to 63.6 in May from 69.4 in April, dropping to its lowest level since hitting 63.3 in March of 2009. The index of consumer expectations also tumbled to 56.3 in May from 62.5 in April. With regard to inflation, one-year and five-year inflation expectations remained unchanged at 5.4 percent and 3.0 percent, respectively.Powered by Commodity Insights