Significant Drop in Consumer Sentiment

The University of Michigan's final monthly report for April reveals a concerning trend in US consumer confidence, with the index falling to 52.2. This marks an 8.4% decrease from March and a staggering 32.4% drop compared to April 2024.

Current Economic Conditions Worsen

The Current Economic Conditions Index also experienced a downturn, decreasing by 6.3% from the previous month and 24.3% year-over-year, settling at 59.8 points. Meanwhile, the Index of Consumer Expectations saw a more dramatic fall, losing 10.1% monthly and 37.8% annually, to reach 47.3.

Expert Insight on the Decline

"Consumer sentiment fell for the fourth consecutive month, with an 8% plunge from March. The expectations index suffered the most, with significant declines in perceptions of personal finances and business conditions," noted Joanne Hsu, Director of Surveys of Consumers, in the report.