US Consumer Sentiment Is at a Record Low
The war, inflation and more dark clouds on the horizon are feeding America’s doom loop.
Another Friday has managed to deliver unpleasant news about the US economy. According to the University of Michigan, consumer sentiment fell in recent weeks to a record low, an historic reading likely fueled by the US-Israel war with Iran and the effect it’s had on already-bubbling inflation.
The preliminary April sentiment index plummeted to 47.6 from 53.3 in March. Americans expect prices to rise at an annual rate of 4.8% over the next year.