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Consumer sentiment falls to fresh record low in May as surging gas prices hit outlook
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- Surging gas prices due to the Iran war sent consumer sentiment to a new low in the early part of May, according to a University of Michigan survey Friday.
- The school's closely watched Survey of Consumers posted a 48.2 preliminary reading, down 3.2% from April's prior record swoon and off 7.7% from a year ago.
Livestream Menu Make Itselect USAINTLLivestream Search quotes, news & videos Livestream Watchlist SIGN INCreate free account Markets Business Investing Tech Politics Video Watchlist Investing Club PROLivestream Menu
Surging gas prices due to the Iran war sent consumer sentiment to a new low in the early part of May, according to a University of Michigan survey Friday.
The school's closely watched Survey of Consumers posted a 48.2 preliminary reading, down 3.2% from April's prior record swoon and off 7.7% from a year ago. Economists surveyed by Dow Jones had been looking for 49.7.
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