Economics
US Consumer Sentiment Falls to Fresh Decade Low on Inflation
- Final May University of Michigan gauge declined to 58.4
- Views of economic outlook, buying conditions deteriorate
Shoppers wait in line to checkout inside a grocery store in San Francisco, California.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
US consumer sentiment deteriorated further in late May to a fresh decade low as escalating concerns over inflation dimmed the outlook for the economy.
The University of Michigan’s final May sentiment index decreased to 58.4 from a preliminary reading of 59.1, data released Friday showed. In April, the gauge stood at 65.2.