RMD News: U.S. Consumer Sentiment Plummets in May: 5 Safe Stock Picks - 13th May 2024, 10:07pm

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The sentiment of American consumers on the economy has plunged in May. On May 10, the University of Michigan reported that the preliminary index of consumer sentiment tumbled to a reading of 67.4%. The consensus estimate was 76%. The final reading of April was also revised downward to 77.2% from 77.9%, as reported earlier.

May’s preliminary reading marks a 12.7% decline in month over month. The primary reason for this decline was a sharp increase in consumers’ expectations for the inf...

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