Consumer sentiment in the United States fell to an all-time low in early May, driven by surging gasoline prices linked to the ongoing conflict in the Middle East, according to a University of Michigan survey released Friday.
The drop in confidence highlights the growing pressure on households and raises concerns about the resilience of consumer spending.
The survey, a closely watched indicator of economic health, recorded a reading of 48.2, marking a significant decline from previous months.
Analysts attribute the sharp fall to the rising cost of fuel, which has been exacerbated by geopolitical tensions and supply disruptions in s.
The energy market has seen renewed volatility, with Brent crude prices reacting to the heightened risk environment.
The broader market is now pricing in the potential for prolonged energy cost pressures, which could ripple through sectors reliant on consumer demand.