It Depends on the Year: Consumer Sentiment Did Beat COVID Lows — But Not Recently
“Consumer sentiment during early June was lower than during the COVID-19 pandemic”
The argument in brief
The claim that consumer sentiment was lower than during COVID is being shared without a crucial detail: the year. In June 2022, the University of Michigan Consumer Sentiment Index did hit a record low of 50.0, genuinely below the COVID trough of 71.8 — but recent June readings hover around 52-57, making a blanket comparison misleading.
Data: University of Michigan Survey of Consumers / FRED
Why it spread
Economic anxiety is real for a lot of people, and a statistic that says things are worse than COVID validates that feeling in a concrete, shareable way. Comparing current hardship to a universally recognized crisis gives the claim emotional weight and makes it feel credible — even when the fine print has gone missing.
The claim that consumer sentiment in early June fell below COVID-19 pandemic levels sounds alarming — and for one specific moment, it was actually true. But as a general statement, it skips over details that completely change the picture.
In June 2022, the University of Michigan Consumer Sentiment Index dropped to 50.0, an all-time record low confirmed by both the University of Michigan and Federal Reserve historical data on FRED. That number genuinely was lower than the COVID-era trough of 71.8 recorded in April 2020. So if someone heard this claim in mid-2022, they were getting accurate information.
The problem is that the claim keeps circulating without a year attached. Early June 2025 preliminary readings from the University of Michigan showed sentiment in the 52-57 range — still historically low, but not a clean beat of every COVID-era reading. The Conference Board's Consumer Confidence Index also tells a different story, with its own COVID lows sitting around 85-87, and subsequent readings varying considerably depending on the month you pick for comparison.
The strongest version of this claim — that June 2022 sentiment was worse than COVID — holds up. The weaker version — that any recent June is worse than the pandemic — does not. Sentiment indexes also measure different things, and cherry-picking one index while ignoring another can make the picture look more dramatic than it is.
This kind of claim spreads because it lacks a timestamp. A true statistic from 2022 gets recycled into conversations about 2025, and without the year, readers have no way to check it. When you see a sentiment comparison to COVID, always ask: which index, which month, and which year?
Sources
- University of Michigan Survey of Consumers
The University of Michigan Consumer Sentiment Index fell to 50.0 in June 2022, which was a record low at the time, lower than the April 2020 COVID low of 71.8. However, in early June 2025, preliminary readings showed sentiment around 52-57, which was low but not universally below all COVID-era readings.
- University of Michigan Consumer Sentiment - June 2022 Record Low
In June 2022, the University of Michigan Consumer Sentiment Index hit an all-time record low of 50.0, which was indeed lower than the COVID-19 pandemic trough of 71.8 recorded in April 2020, making the claim true for that specific period.
- Conference Board Consumer Confidence Index
The Conference Board's Consumer Confidence Index showed a different pattern, with COVID-era lows (around 85-87 in April 2020) being more severe relative to subsequent readings, depending on the specific month and year being compared.
- Federal Reserve Bank of St. Louis (FRED) - Consumer Sentiment Data
Historical FRED data confirms that the June 2022 University of Michigan sentiment reading of 50.0 was the lowest on record, surpassing COVID-era lows. Early 2025 readings were low but context-dependent on which pandemic month is used for comparison.