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Consumer sentiment fell sharply in April, marking the fourth consecutive month of declines, as an intensifying trade war fueled anxiety over American jobs and rising inflation.
From The Associated Press
The UMich survey’s preliminary headline index reading for April dropped to 50.8, down from 57 in March.
From Wall Street Journal
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A University of Michigan of Michigan survey Friday found consumer sentiment plunged 11% in April for the fourth straight month of decline. It fell to 50.8.
The University of Michigan’s consumer sentiment measure fell from late March to early April amid growing trade war tensions and recession worries.
U.S. consumer sentiment deteriorated sharply in April and 12-month inflation expectations surged to the highest level since 1981 amid unease over escalating trade tensions.
The Michigan Consumer Sentiment Index plummeted to 50.8 in April, its second-lowest reading on record, surpassed only by June 2022.
Inflation expectations are at the highest level since 1981, when the Great Inflation was finally beginning to wind down. Overall consumer sentiment also fell.
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Americans' expectations for inflation in the year ahead increased sharply in April, hitting their highest since 1981, according to the University of Michigan’s consumer-sentiment survey. Year-ahead inflation expectations jumped to 6.
By James KnightleyThe Consumer Confidence Index published by the University of Michigan dropped 6.2 points to 50.8 in early April, below the 53.8
Facing difficulty with financial planning, consumers are feeling less confident about the future, which could imperil economic growth.