According to the University of Michigan, sentiment declined for a third straight month as inflation concerns continued to weigh on households.
U.S. consumer sentiment fell to 44.8 in May, according to the University of Michigan, extending a three-month slide and approaching the historic low recorded in June 2022. The reported decline reflects rising inflation concerns among consumers. Weak consumer confidence is closely watched by financial markets, including crypto traders, because it can shape expectations for spending, growth, and interest-rate policy.