Consumer sentiment hits record low...

An article summarized by Yahoo Finance:

The University of Michigan’s Index of Consumer Sentiment came in at 49.8 for April, better than expected but still the lowest reading on record, even below levels seen during the 2008 financial crisis and the COVID-19 pandemic. Sentiment has fallen 6.6% from the previous month and 4.6% from a year ago.

The temporary ceasefire helped ease some concerns, particularly around rising gas prices, which have jumped more than $1 on average since the conflict began. However, economists note that broader economic pressures, especially persistent inflation and supply constraints, continue to weigh heavily on consumer outlook. Even as stock markets hit record highs, many Americans remain pessimistic about their financial future.

Inflation expectations are also rising sharply, adding to concerns. Short-term inflation expectations jumped to 4.7% in April, while long-term expectations climbed to 3.5%, both significantly above pre-pandemic norms. The decline in sentiment is widespread, cutting across all demographics, highlighting a broad sense of economic unease despite some recent geopolitical stability.

For the article: https://finance.yahoo.com/news/consumer-sentiment-at-record-low-as-americans-feel-impact-of-war-in-iran-142920073.html