US Consumer Sentiment Extends Plunge as Price Expectations Soar

US consumer sentiment tumbled to the second-weakest reading on record while short- and long-term inflation expectations soared to multi-decade highs on growing tariff concerns.

The preliminary April sentiment index slid 6.2 points to 50.8, according to the University of Michigan, below economists’ forecasts. Aside from a 50 reading in June 2022, that was the lowest in surveys dating back to the 1970s.

The results were based on interviews from March 25 through April 8, prior to President Donald Trump’s Wednesday announcement of a 90-day pause on higher tariffs for dozens of US trading partners. Duties on China have been subsequently ...