Americans Report Weaker Economic Sentiment Than During COVID-19, Financial Crisis and Post-9/11 Period
According to YF, U.S. public sentiment on the economy has fallen below levels seen during the COVID-19 pandemic, the global financial crisis, and the aftermath of the September 11 attacks.
Fact Check
The claim is directly supported by Yahoo Finance's article 'Consumer sentiment hits record low as high gas prices drag on Americans' outlooks' and CNN's 'High gas prices, cost of living send US consumer sentiment to all-time low,' both published May 22, 2026. The underlying data point is the University of Michigan Consumer Sentiment Index final May 2026 reading of 44.8, a record low, as confirmed by Advisor Perspectives and Trading Economics. This level is below readings during the COVID-19 pandemic, the 2008 financial crisis, and the post-9/11 period.
Summary
YF reports that Americans are feeling worse about the economy now than they did during several major past shocks: the COVID-19 pandemic, the global financial crisis, and the period following the September 11 attacks in the United States. The claim points to a sharp deterioration in consumer economic sentiment, a closely watched indicator because weak confidence can affect spending, investment behavior, and broader market expectations. The source text does not provide the underlying survey, numerical data, methodology, or date range for the comparison.
Terms & Concepts
- Economic sentiment: A measure of how consumers or investors feel about current and future economic conditions, often used to gauge confidence and potential spending behavior.
- Global financial crisis: The 2007–2009 period of severe financial market stress and recession that affected banks, credit markets, and household wealth worldwide.
- Market sentiment: The overall tone of investor or public confidence toward economic and financial conditions, which can influence asset prices and demand.