Consumer Sentiment Sinks To Record Low As Cost Of Living Concerns Intensify
Consumer sentiment has reached a record low as concerns over the cost of living continue to rise. The University of Michigan Consumer Sentiment Index reported a final May reading of 44.8, which is a significant drop from April's figures. This decline highlights the growing anxiety among consumers regarding their financial situations.
- ▪The final May reading for the University of Michigan Consumer Sentiment Index is 44.8.
- ▪This marks a 5-point drop from April's index value.
- ▪The reading also fell well below the preliminary estimate of 48.2 for May.
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