PNC Economics Research
May 13, 2026
Consumer Sentiment Declines Slightly
Macro ThematicMacro Economic IndicatorsConsumer Discretionary
US consumer sentiment fell to a record low of 48.2 in May 2026, driven by concerns over gas prices, Middle East hostilities, and trade policy.
Key Takeaways
- 1.Consumer sentiment reached an all-time series low of 48.2 in the preliminary May release, primarily driven by a drop in the present conditions index.
- 2.Inflation expectations decreased slightly for both one-year (4.5%) and five-year (3.4%) horizons, though they remain above pre-conflict levels.
- 3.Current sentiment is weighed down by geopolitical tensions in the Middle East, trade policy uncertainty, and stagnant job growth.
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Authors
Jay Hawkins
Themes
Inflation ExpectationsGeopolitical UncertaintyConsumer Spending Power
Regions
North AmericaUnited States
