PYMNTS
26 May 2026, 19:51 UTC · 2h ago
Consumer Confidence Drops as Gas Prices and Inflation Worries Rise
Source · https://www.pymnts.com/economy/2026/consumer-confidence-drops-gas-prices-inflation-worries-rise/
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PYMNTS
26 May 2026, 19:51 UTC · 2h ago
Source · https://www.pymnts.com/economy/2026/consumer-confidence-drops-gas-prices-inflation-worries-rise/
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The University of Michigan’s Index of Consumer Sentiment fell to its worst reading on record in May. — A record-low sentiment reading suggests a severe erosion of consumer confidence, which typically precedes a decline in household spending and economic growth.
-0.80Over a third of U.S. adults were in 'active financial retreat' as of April, reducing everyday expenses and deferring large purchases. — Direct evidence of a shift toward a 'cutback economy' signals weakening demand for discretionary goods and services.
-0.70The Conference Board’s Consumer Confidence Index dipped to 93.1 in May, driven by gas prices and war-related inflation worries. — A decline in confidence and rising energy costs act as a drag on consumer purchasing power and overall market optimism.
-0.50The Conference Board's Expectations Index climbed by 1 point to 74.4. — A slight improvement in the six-month outlook for business and labor markets provides a minor hedge against immediate pessimism.
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