Preliminary results in University of Michigan Survey record largest ever decline in wake of coronavirus crisis.
The University of Michigan Consumer sentiment plunged 18.1 Index-points in early April, the largest monthly decline ever recorded. When combined with last month’s decline, the two-month drop of 30.0 Index-points was 50% larger than the prior record. Of the two Index components, the Current Conditions Index plunged by 31.3 Index-points, nearly twice the prior record decline of 16.6 points set in October 2008.
In contrast, the Expectations Index fell by 9.7 points, a substantial decline, but not nearly as steep as the record 16.5
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