Consumer Sentiment Plunge Lowers Odds of U.S. Growth Rebound
How the Price of Oil Impacts Consumer Spending
Shobhana Chandra and Michelle Jamrisko
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.
