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US Consumer Sentiment Falls to Lowest In More Than a Decade

  • University of Michigan index drops to 59.1, lowest since 2011
  • Buying plans for durables fall to record low on high prices
A shopper walks out of a store at the Southland Center shopping mall in Taylor, Michigan.
A shopper walks out of a store at the Southland Center shopping mall in Taylor, Michigan.Photographer: Emily Elconin/Bloomberg
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US consumer sentiment declined in early May to the lowest since 2011 as persistent concerns over inflation dimmed Americans’ views on the economy. 

The University of Michigan’s sentiment index fell to 59.1 from 65.2 in April, data released Friday showed. The figure was lower than all estimates in a Bloomberg survey of economists, which called for a median reading of 64.