A report released by the University of Michigan on Friday showed a significant deterioration in U.S. consumer sentiment in the month of April.
The University of Michigan said its consumer sentiment index plunged to 47.6 in April after falling to 53.3 in March. Economists had expected the index to dip to 52.0.
With the much steeper than expected drop, the consumer sentiment index tumbled to its lowest level on record.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.