Financial News: U.S. Consumer Sentiment Plunges To Record Low In

U.S. Consumer Sentiment Plunges To Record Low In April

04/10/2026 - 10:38:00 (RTTNews)

(RTTNews) - A report released by the University of Michigan on Friday showed a significant deterioration in U.S. consumer sentiment in the month of April.

The University of Michigan said its consumer sentiment index plunged to 47.6 in April after falling to 53.3 in March. Economists had expected the index to dip to 52.0.

With the much steeper than expected drop, the consumer sentiment index tumbled to its lowest level on record.

"Open ended comments show that many consumers blame the Iran conflict for unfavorable changes to the economy," said Surveys of Consumers Director Joanne Hsu. "Note that 98% of interviews were completed prior to the April 7th announcement of a temporary cease-fire."

She added, "Economic expectations will likely improve after consumers gain confidence that the supply disruptions stemming from the Iran conflict have ended and gas prices have moderated."

The notable decrease by the headline index came as the index of consumer expectations slumped to 46.1 in April from 51.7 in March, while the current economic conditions index slid to 50.1 in April from 55.8 in March.

On the inflation front, the University of Michigan said year-ahead inflation expectations surged to 4.8 percent in April from 3.8 percent in March, reflecting the largest one-month increase since April 2025.

"The current reading exceeds those seen in 2024 and remains well above the 2.3-3.0% range seen in the two years pre-pandemic," Yun said.

Long-run inflation expectations also ticked up to 3.4 percent in April from 3.2 percent in March, reaching the highest reading since November 2025.

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