Worst Consumer Sentiment In History: Why Now Is Worse Than 2008 | Joanne Hsu
The University of Michigan consumer sentiment index hit a record low of 47.6 in April, driven by persistent high prices, geopolitical fears from the Iran conflict, and weakening labor markets. Unlike previous downturns, households are now squeezed on both the income and expenditure sides simultaneously, creating a precarious economic outlook that threatens consumer spending resilience.