US consumer confidence deteriorated sharply in May across all population categories, to its lowest since August 2011.
The index it yielded 9.4% in relation to April, to 59.1 points, according to the preliminary estimate from the University of Michigan released Friday. This deterioration surprised analysts, who expected a drop but much less, to 63.5 points.
The decline is due both to the perception of current economic conditions and the prospects for the coming months, and is widespread regardless of “income, age, education, geographic area or political sympathy,” summarized Joanne Hsu, economist in charge of this survey. closely followed by the markets.
“Consumers’ assessment of their current financial situation relative to a year ago is in its lowest level since 2013Hsu noted. More than a third of those surveyed attribute these difficulties to inflation.