USA-Consumer Confidence/May
USA-Consumer Confidence/May
Dateline : May 8, 2026/Recent/File
Location : United States
Duration : 1'50
Beijing, China - May 8, 2026 (CCTV - No access Chinese mainland)
1. Screenshot of preliminary results of consumer sentiment survey by University of Michigan
FILE: Washington D.C., USA - Oct 2024 (CCTV - No access Chinese mainland)
2. Various of Capitol building, U.S. national flag
3. Symbol of U.S. Senate
4. Capitol building
Los Angeles, California, USA - Recent (CGTN - No access Chinese mainland)
5. Various of traffic
6. Various of car owner refueling car at gas station
7. Various of gas station; people entering room
Washington D.C., USA - Recent (CCTV - No access Chinese mainland)
8. Various of gas station, fuel dispenser
Miami, Florida, USA - Recent (CGTN - No access Chinese mainland)
9. Various of people filling gas at gas station
FILE: Westbury, New York State, USA - Aug 1, 2025 (CCTV - No access Chinese mainland)
10. Various of shoppers in supermarket
FILE: New York City, USA - Oct 2024 (CCTV Video News Agency - No access Chinese mainland)
11. Various of traffic, buildings
12. Cityscape
The U.S. consumer sentiment falls for the third straight month in May, hitting its lowest level since 1952, as inflation worries mount amid surging oil prices caused by the U.S.-Israeli war on Iran.
The U.S. Consumer Sentiment Index fell to 48.2 in May 2026, according to a preliminary reading released Friday by the University of Michigan (UM) Surveys of Consumers, down from the final reading of 49.8 in April 2026 and below the final reading of 52.2 last May.
The survey found that inflation worries were the primary driver of the continued downward trend in consumer confidence.
As for the drivers of inflation, about one-third of consumers mentioned gasoline prices and about 30 percent mentioned tariffs. Together, the findings suggest consumers remain under strain from rising costs, with surging fuel prices standing out as the most acute pressure.
Consumers are increasingly worried about their personal finances as inflation persists, CNBC reported on Friday, noting that fears of rising costs remain the dominant factor weighing on sentiment.
Continued disruptions in the Strait of Hormuz have kept global energy prices elevated, resulting in average U.S. gasoline prices staying high for several consecutive weeks, CNN reported on the same day.
The average gasoline price across the United States has increased by more than 50 percent since the outbreak of the Iran war, data from the American Automobile Association showed.
Analysts believe that market confidence is expected to remain subdued until supply disruptions are fully resolved and energy prices fall.
ID : 8478482
Published : 2026-05-09 09:39
Last Modified : 2026-05-09 17:01:55
Source : CCTV Video News Agency,China Central Television (CCTV),China Global Television Network (CGTN)
Restrictions : No access Chinese mainland
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