Consumer sentiment in the United States has fallen to an almost ten-year low in May, new data reveals.
The drop was revealed in the final May edition of the University of Michigan’s Sentiment Survey, which was released on May 27 .
The index fell from 65.2 in April to 59.1 in the initial May report to 58.4 in the final—the lowest level since August 2011—as consumers express more economic pessimism due to rising prices.The final reading confirmed the early reports showing a decline in consumer sentiment in May, falling 10.4 percent from April and moving back down below March’s reading of […]
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