Consumer Sentiment Drops

June 1, 2015  by in Economic News, Industry   

The university’s gauge of consumer sentiment dropped to 90.7, compared with April’s reading of 95.9.

“Consumer optimism retreated in May as consumers adopted more modest prospects for a rebound following the economy’s dismal 1st quarter performance,” according to the university.

Despite the decline, the consumer survey showed the Sentiment Index has averaged 94.6 during the first five months of this year. The last year that the Sentiment Index was higher was 2004, when it averaged 95.2.