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The war in Iran dragged consumer confidence to a historical low this month amid increasing concerns about inflationary pressures.
The University of Michigan’s preliminary April Consumer Sentiment Index, released on April 10, declined 11 percent to an all-time low of 47.6.
This is down from the previous month’s final reading of 53.5 and below the market estimate of 52.
April’s downturn reflected a sharp 20 percent plunge in expected business conditions, alongside an 11 percent deterioration in respondents’ views of their personal finances.
Consumers cited concerns surrounding high prices and weaker asset values.
Open-ended comments blamed current conditions on the six-week-old Iranian conflict. Nearly all the surveys of respondents were conducted before the two-week ceasefire agreed to by the United States and Iran on April 7….
The University of Michigan’s preliminary April Consumer Sentiment Index, released on April 10, declined 11 percent to an all-time low of 47.6.
This is down from the previous month’s final reading of 53.5 and below the market estimate of 52.
April’s downturn reflected a sharp 20 percent plunge in expected business conditions, alongside an 11 percent deterioration in respondents’ views of their personal finances.
Consumers cited concerns surrounding high prices and weaker asset values.
Open-ended comments blamed current conditions on the six-week-old Iranian conflict. Nearly all the surveys of respondents were conducted before the two-week ceasefire agreed to by the United States and Iran on April 7….
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