Consumer sentiment fell 6.6% from 53.3 in March to 49.8 in April, the lowest reading on record, according to a survey by the University of Michigan. Year-over-year consumer sentiment decreased 4.6% from 52.2.
The 49.8 reading is the lowest on record, coming in below levels during the 2008 financial crisis, the COVID pandemic and the Russian invasion of Ukraine.
The survey also showed year-ahead inflation forecasts increasing to 4.7% in April from 3.8% in March. This was the largest month-over-month jump since April 2025, when President Trump announced his global tariffs.
“Decreases in sentiment were seen across political party, income, age, and education,” University of Michigan Surveys of Consumers Director Joanne Hsu said. “Expected business conditions declined for both short and long time horizons, nearly matching year-ago readings when the reciprocal tariff regime was implemented.”
Read the full report here.
