Consumer Sentiment Near Historic Low, University of Michigan Survey Finds

A new University of Michigan Survey of Consumers shows that Americans are feeling markedly more negative about the economy than in recent months. Respondents report that sentiment is now comparable to the peak of post-pandemic inflation in 2022, and the measurements are described as “near historic lows.”

WILX 10

The survey links the downturn in confidence to several macro-economic pressures. Inflation rates had leveled off in 2022, yet many consumers remain skeptical that relief will return soon. Researchers cite ongoing tariffs and the war in Iran as additional sources of uncertainty that are shaping expectations about future price movements.

WILX 10

Interviewees in Lansing, Michigan, describe everyday cost pressures ranging from higher fuel prices to more expensive food. Others expressed mixed outlooks: one person voiced optimism tied to upcoming midterm elections, while another expressed cynicism about the near-term economic outlook.

WILX 10

Joanne Hsu, director of the University of Michigan Survey of Consumers, emphasized that the current readings reflect a deepening unhappiness with economic conditions. She noted that the survey’s long-term tracking shows a sharp decline in consumer mood and warned that the public does not expect the inflation relief seen in 2022 to reappear imminently.

WILX 10

“People feel really, really unhappy about the economy,” — Joanne Hsu, director of the University of Michigan Survey of Consumers

WILX 10