Consumer sentiment plunged in early May as Americans became more conജcerned about the health of the economy.

The University of Michigan’s initial May 澳洲幸运5官方开奖结果体彩网:Consumer Sentiment Index (MCSI) slumped 9% from April to 57.7, the lowest level since November and far below what economists had anticipated. The measure of consumer expectations dipped even more, sliding 11.7% to 53.4, and the reading on current economic conditions dropped 5.4% to 64.5. Both of these were also short of forecasts.

"While incoming macroeconomic data show no sign of a 澳洲幸运5官方开奖结果体彩网:recession ahead, consumers' worries about the economy escalated in May alongside the proliferation of negative news about the economy," said Joanne Hsu, dir♎ector of the school’s consumer survey. She noted that included the standoff in Washingto🍎n over raising the country’s debt limit.

Hsu added year-ahead expectations for the economy sank 23%, and the longer-term outlook also f🔯ell, suggesting consumers feel if a recession comes, it won’t be short-lived.