
Last week, we got the latest read on consumer sentiment from the University of Michigan’s (U of M) Index of Consumer Sentiment (ICS), and it was not a pretty picture. According to the preliminary report for April, consumer sentiment dropped another 11% this month, extending a decline, U of M says, that began with the onset of the Iran war. This places the current reading about 9% below the reading for April 2025.
This is the lowest reading ever recorded in the history of this survey since 1946…













