University of Michigan Sentiment Falls Further

The University of Michigan's consumer sentiment index fell to a preliminary record low of 48.2 in May due to high gas prices and tariffs. However, inflation expectations for the coming year and the next decade both moved lower, beating consensus estimates.

Key Takeaways

• 1.The University of Michigan's consumer sentiment index dropped to 48.2 in May, its lowest level in history if the preliminary reading holds.
• 2.Despite significant consumer concern over gas prices and tariffs, inflation expectations for both the 1-year and 5-10 year horizons declined.
• 3.Current economic conditions dropped sharply to a historical low, while consumer expectations saw a marginal improvement.

Table of Contents

• BOTTOM LINE
• US MAP
• KEY NUMBERS
• MAIN POINTS
• Disclosure Appendix

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