Michigan 44.8, this number just makes my heart race.


Oil prices + war double hit, the wallet has already surrendered.
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MeNews
Dragged down by inflation concerns, U.S. consumer confidence drops to a historic low
Due to the impact of the Iran war, U.S. consumer confidence in May dropped to a historic low, with the University of Michigan final reading at 44.8.
The 5-10 year inflation expectations rose to 3.9%, up from 3.5% in April, reaching a seven-month high;
the expected price increase over the next year is 4.8%.
Gasoline prices are near their highest levels since 2022, increasing concerns about living costs and worries about the prospects of war.
Low-income households are hit hardest by inflation.
Survey director Joanne Hsu said that 57% of respondents believe high prices are eroding their finances, up from last month.
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