Inflation Fears Drive Consumer Sentiment to Record Low

The University of Michigan’s final April sentiment index fell to 49.8 from 53.3 in March, remaining the lowest reading in data back to 1978. The final print was slightly better than the preliminary estimate, but it still signals very weak consumer confidence and a cautious outlook for spending.

Analysis

The University of Michigan’s final April sentiment index fell to 49.8 from 53.3 in March, remaining the lowest reading in data back to 1978. The final print was slightly better than the preliminary estimate, but it still signals very weak consumer confidence and a cautious outlook for spending.