Consumer sentiment drops to 6-month low on inflation, unemployment fears

( ) -q-20- UNDATED (Correspondent Jeremy House) “a year ago.”

Consumer sentiment fell sharply in May to the lowest level in six months.

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TAG: Correspondent Jeremy House reporting. Consumers’ outlook has generally been gloomy since the pandemic and particularly after inflation first spiked in 2021.

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VERBATIM: The drop came as Americans cited concerns about stubbornly high inflation and interest rates as well as fears that unemployment could rise. The University of Michigan’s consumer sentiment index dropped to 67.4 this month from a final reading of 77.2 in April. That is still about 14% higher than a year ago.

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