Consumer sentiment in the US just posted its first meaningful bounce after hitting rock bottom. The University of Michigan’s preliminary Consumer Sentiment Index for June came in at 48.9, comfortably above the consensus estimate of 46.0 and up from May’s final reading of 44.8.
That May figure, for context, was the lowest on record.
A 9% month-over-month jump sounds impressive until you zoom out. The index is still sitting 19% below where it was in June 2025, when it registered 60.7.
What’s actually driving the rebound
According to Surveys of Consumers Director Joanne Hsu, the uptick traces back to a straightforward catalyst: lower gasoline prices. When fuel costs drop, consumers feel it immediately. It’s the most visible price signal in the economy, plastered on signs at every intersection.
