Consumer sentiment improved slightly in late April from earlier in the month but remained deeply depressed, weighed down by widespread concerns over inflation, tariffs, and a historic drop in confidence among Democrats. The University of Michigan’s final reading of its Consumer Sentiment Index rose to 52.2 in April, up from a preliminary estimate of 50.8 but down from 57.0 in March. It marked the fourth consecutive monthly decline and the lowest final reading since July 2022. The Expectations Index, which measures sentiment about the economy in the months ahead, fell to 47.3 in April, down from 52.6 in March. The...