Americans Are More Pessimistic About The Economy Than Ever—Months Before Midterms

BreakingInnovationAmericans Are More Pessimistic About The Economy Than Ever—Months Before MidtermsByAlicia Park,Reporter. I cover markets and tech.Follow AuthorApr 24, 2026, 12:28pm EDT--:-- / --:--This voice experience is generated by AI. Learn more.This voice experience is generated by AI. Learn more.ToplineAnxiety about the U.S.-Iran conflict and rising gas prices pushed Americans' view of the economy to the worst level ever recorded, according to the University of Michigan's consumer sentiment survey that has been running for 48 years.(Photo by Justin Sullivan/Getty Images)Getty ImagesKey FactsThe consumer sentiment reading for April slid to 49.8 from 53.3 in March, landing just below the previous record low of 50 set in June 2022 during the post-pandemic inflation crisis. The final 49.8 reading came in slightly above the preliminary April figure of 47.6 published two weeks ago, as responses collected later in the survey period—after the U.S. and Iran agreed to a two-week ceasefire on April 7—turned more positive, per Michigan survey director Joanne Hsu.Year-ahead inflation expectations surged to 4.7% from 3.8% in March, the biggest one-month jump since President Trump's sweeping tariff announcement in April 2025.Nearly two-thirds of respondents expect gas prices to rise over the next year, the largest share since 2022, with consumers pricing in a roughly 50-cent increase at the pump.The April reading published Friday includes survey responses collected from March 24 to April 20. if (!window.cnxel) { window.cnxel = {}; window.cnxel.cmd = []; var iframe = document.createElement('iframe'); iframe.style.display = 'none'; iframe.onload = function() { var iframeDoc = iframe.contentWindow.document; var script = iframeDoc.createElement('script'); script.src = '//cd.elements.video/player.js?cid=62cec241-7d09-4462-afc2-f72f8d8ef40a'; script.setAttribute('defer', '1'); script.setAttribute('type', 'text/javascript'); iframeDoc.body.appendChild(script); }; d...