'Never tanked this fast': Experts stunned by 'horrific' consumer sentiment numbers

Consumer sentiment over the last month plunged to levels not seen since the Great Recession more than 15 years ago.

As reported by the Wall Street Journal, "a closely watched index of consumer sentiment nosedived to 50.8 in April from 57 last month, continuing a recent downward trend stoked by concerns about trade, jobs and inflation."

As if that weren't bad enough, the Journal notes that consumers' inflation expectations for the year ahead rose to 6.7 percent, which is the highest recorded since 1981.

Economics journalists and analysts expressed astonishment at the plunge in consumer sentiment, which occurred before the impact of President Donald Trump's tariffs has taken full effect.

"Horrendous," Bloomberg's Joe Weisenthal commented on BlueSky.

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"Worse than I imagined honestly," wrote Washington Post economics reporter Jeff Stein on X.

"Consumer sentiment is imploding," commented financial services firm Renaissance Macro Research. "Importantly, consumers see a negative supply shock. Inflation expectations have jumped while employment expectations have plunged. Not great, Bob!"

University of Michigan economist Justin Wolfers put the numbers into historical context and remarked, "Consumer sentiment has never tanked this far, this fast."

Financial Times data journalist Ray Douglas added that the dive in consumer sentiment was not merely a reflection of partisan Democrats expressing their disapproval with President Donald Trump.

"This decline spanned the political spectrum, with Democrats, Republicans and independents all reporting weaker sentiment," he observed.