US consumer confidence unexpectedly dropped to its second lowest level in history, trade war worries increasing inflation expectations

According to the app of Securities Times, the latest data released by the University of Michigan in the United States show that the Consumer Confidence Index in the United States unexpectedly fell to 50.8 in May, not only lower than the 52.2 in April, but also hit the second lowest level in history, only higher than the lowest record set in June 2022. This result is lower than almost all expected values in the survey of economists by foreign media, highlighting the pessimistic mood of the public towards the economic outlook.