US Consumer Confidence Takes a Hit in April

The University of Michigan's final monthly report reveals a significant drop in US consumer sentiment to 52.2 in April, marking an 8.4% decrease from March and a stark 32.4% fall compared to April 2024.

Current Economic Conditions and Expectations Wane

The Current Economic Conditions Index fell to 59.8, down 6.3% from the previous month and 24.3% year-over-year. Meanwhile, the Index of Consumer Expectations plummeted to 47.3, suffering a 10.1% monthly and a 37.8% annual decline.

Expert Insights on the Decline

"Consumer sentiment fell for the fourth consecutive month, with an 8% plunge from March. The expectations index saw a significant drop, reflecting concerns over personal finances and business conditions," noted Joanne Hsu, Director of Surveys of Consumers.