Consumer sentiment fell in April compared to the prior month, hitting a record low, reflecting consumer concerns about gas prices and the economic impact of the Iran war.
The University of Michigan’s final April sentiment index dropped to 49.8 this month from 53.3 in March. This is the lowest final reading for the measure in records going back to 1978. The preliminary mid-month reading, however, was even lower, so there has been some improvement in April.
“After the two-week cease-fire was announced and gas prices softened a touch, sentiment recovered a modest portion of its early-month losses,” Joanne Hsu, the director of the Michigan…
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