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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…
Another sign of a deteriorating consumer outlook arrived last Friday in the form of the Index of Consumer Sentiment (ICS), another highly respected data resource from the University of Michigan that is widely followed by economists, financial analysts, Wall Street, the Federal Reserve Board, government officials, the media, and more. Widely viewed as a reliable indicator of how consumers are feeling about their current circumstances, as well as their outlook for the future, and their expectations for inflation – it is a leading indicator of future economic direction.
The preliminary result of the ICS for February registered a significant drop in consumer sentiment. What is spooking consumers?
