Consumer Confidence in the U.S. Hits Lowest Level in More than 25 Years

Ann Arbor, Mich.—U.S. consumer sentiment is at it worst level in 26 years, according to the Ann Arbor, Mich.-based University of Michigan’s index of confidence.The index dropped from 69.5 in March to 63.2 in April due to recession concern, BBC News reported Friday. The reading was far worse than analysts had expected.The April figure is the lowest since 1982, when the U.S. was in an economic slump. U.S. consumers are worried about high unemployment and rising food and fuel prices.