Let us take a look at the economic data for April. The UMich Consumer Sentiment index has officially hit a record low. The primary sentiment score came in at 47.6, which missed the projected estimate of 51.5 and represents a decline from the 53.3 seen in the prior month. When examining the underlying metrics, the current conditions index dropped to 50.1. This fell short of the 53.4 estimate and was down from the previous month reading of 55.8. Furthermore, the consumer expectations measurement decreased to 46.1, underperforming both the anticipated 50.2 and the prior month figure of 51.7.