NEW YORK, May 16 (Xinhua) -- U.S. consumer sentiment unexpectedly fell to the second-lowest level on record and inflation expectations climbed to multi-decade highs amid growing concerns about tariffs.
The preliminary May sentiment index declined to 50.8 from 52.2 a month earlier, according to the University of Michigan on Friday.
Nearly three-fourths of respondents spontaneously mentioned tariffs, indicating trade policy continues to dominate consumers' views of the economy. The topic crosses partisan lines, including a notable share of Republicans bringing it up.
The survey was conducted between April 22 and May 13, a period that ended just after the U.S. and China agreed to temporarily reduce tariffs on each other while they negotiate a trade deal.
Still, "temporary pauses are unlikely to convince consumers that trade policy has stabilized enough for consumers or businesses to plan effectively for the future," Joanne Hsu, director of the survey, said in a statement.
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