India, April 11 -- Preliminary data released by the University of Michigan on Friday showed a continued slump by U.S. consumer sentiment in the month of April.
The University of Michigan said its consumer sentiment index tumbled to 50.8 in April after plunging to 57.0 in March. Economists had expected the consumer sentiment index to fall to 54.5.
With the much bigger than expected decrease, the consumer sentiment index dropped to its lowest level since hitting 50.0 in June 2022.
"Sentiment has now lost more than 30% since December 2024 amid growing worries about trade war developments that have oscillated over the course of the year," said Surveys of Consumers Director Joanne Hsu.
She added, "Consumers report multiple warning signs that...