India, May 16 -- Consumer sentiment in the U.S. has unexpectedly continued to deteriorate in the month of May, according to preliminary data released by the University of Michigan on Friday.
The University of Michigan said its consumer sentiment index dipped to 50.8 in May after slumping to 52.2 in April. Economists had expected the index to inch up to 53.4.
With the unexpected decrease, the consumer sentiment index has fallen to its lowest level since hitting 50.0 in June 2022.
"Uncertainty over trade policy continues to dominate consumers' thinking about the economy," said Surveys of Consumers Director Joanne Hsu. "Note that interviews for this release were conducted between April 22 and May 13, closing two days after the announcement ...