US consumer sentiment dipped to its second lowest point in history, according to the University of Michigan’s index released on Friday, second only to figures recorded in May 2026. The four lowest ever readings all occurred within the last six months.
The consumer sentiment index shows that Americans are deeply unhappy with the state of their current personal finances and their expectations for the future.
The survey dates back to 1952, meaning Americans are feeling worse now than they did during wars, the 1970s oil crisis, 9/11, the Great Recession, the Covid-19 pandemic and the inflation surge afterward.
The pandemic in 2020 has forced consumers to contend with higher prices and inflation for five and a half years, and cost-of-living concerns have only gotten worse under Trump’s war of choice with Iran, which has impacted the global supply of oil and prices at the pump.
The prices at the pump are a daily reminder of out of pocket costs, and record diesel prices can lead to increasing costs down the road.
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