Skip to content
Subscriber Only

Consumer Sentiment Plunge Lowers Odds of U.S. Growth Rebound

Video player cover image

How the Price of Oil Impacts Consumer Spending

Updated on

A souring economy has curdled the American consumer’s mood.

The University of Michigan’s preliminary sentiment index for May plunged to 88.6, the lowest since October, from 95.9 the prior month. It was weaker than even the lowest estimate of 68 economists surveyed by Bloomberg. Another report showed factory production stalled in April.