After four months of declines, sentiment was flat compared to April but remained significantly below last year.
According to the University of Michigan Surveys of Consumers, consumer sentiment in May was unchanged from April, ending four consecutive months of plunging declines. Sentiment had been slightly down at the preliminary reading for May but turned a corner in the latter half of the month following the temporary pause on some tariffs on China goods.
The Consumer Sentiment Index, at 52.2 for the full month of May, is flat compared to April, but down 24.5% compared to 69.1 in May 2024. The
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