The US consumer sentiment assessment of current economic conditions has declined to 50.4 points, the lowest level on record. This is 5 points and 8 points below the lows seen in 2022 and 2008. By comparison, the index stood 11 points higher in 1980, when annual inflation was at 13.5%. This comes as Americas' perception of current buying conditions for big-ticket items deteriorated to the lowest level on record. An ongoing affordability crisis and a weakening labor market continue to weigh on household finances, dragging consumer sentiment lower. Consumers have rarely been this pessimistic about the economy.