Sharp Drop in Consumer Sentiment

The University of Michigan's final monthly report for April reveals a significant downturn in U.S. consumer confidence, with the index falling to 52.2. This represents an 8.4% decrease from March and a startling 32.4% drop compared to April 2024.

Economic Conditions and Expectations Wane

The Current Economic Conditions Index also saw a decline, dropping 6.3% from the previous month and 24.3% year-over-year to 59.8 points. Meanwhile, the Index of Consumer Expectations experienced a more dramatic fall, decreasing by 10.1% monthly and 37.8% annually to 47.3.

Expert Insight

"Consumer sentiment fell for the fourth consecutive month, with an 8% plunge from March. The April downturn in current conditions was moderate, but the expectations index saw a sharp decline, reflecting concerns over personal finances and business conditions," noted Surveys of Consumers Director Joanne Hsu.