The News
US consumer sentiment fell to its second-lowest level since 1952, according to data released by The University of Michigan Surveys of Consumers Friday, amid escalating uncertainty around US President Donald Trump’s trade war.
The Consumer Sentiment Index dropped to 50.8 from 57.0 last month, surpassing expectations of economists polled by Reuters. Meanwhile, consumers’ 12-month inflation expectations rose to their highest level since 1981.
“Sentiment has now lost more than 30% since December 2024 amid growing worries about trade war developments,” the survey’s director said.
It comes after Trump paused most of his ‘Liberation Day’ tariffs while raising total duties on Chinese imports to 145%, prompting Beijing to strike back by raising levies on US goods to 125%.