Current conditions fall 9% as gasoline and tariff concerns mount; expectations tick up slightly.
Consumer sentiment held near its mid-2022 trough in the preliminary May 2026 reading from the University of Michigan Surveys of Consumers, with a 9% drop in current economic conditions offsetting a marginal uptick in the expectations index as households continued to cite gasoline prices and tariffs as drags on their outlook.
The Index of Consumer Sentiment registered 48.2 in the preliminary May release, down 3.2% from 49.8 in April and 7.7% below the May 2025 reading of 52.2. The Current Economic Conditions Index fell 9.0% to
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