Consumer Sentiment Hits Record Low, per Michigan Survey

By Matt Grossman

Consumer sentiment fell in April to the lowest level recorded in the 74-year history of the University of Michigan's survey, evidence of Americans' concerns that the Iran war will hit the domestic economy.

The survey's initial April reading came in at 47.6, versus 53.3 in March. Analysts polled by The Wall Street Journal were expecting a drop to 52. The April reading is below the previous low point of 50 recorded in June 2022, when the economy was facing searing inflation.

The initial April results are based on interviews that took place between March 24 and April 6, before a tentative cease-fire took hold on Tuesday, April 7. The survey will be updated with a final April reading later this month, based on more recent responses.

Write to Matt Grossman at [e-mail]

(END) Dow Jones Newswires

04-10-26 1031ET