U.S. Consumer Sentiment Plummets in May: 5 Safe Stock Picks

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 inflation rate.The outlook ...