In Michigan, consumer sentiment is pessimistic before midterms

October 18, 2026 / 10:12 AM EDT / CBS News

In most of the country, autumn is campaign season. But in Michigan it is also cider season. The Franklin Cider Mill is an institution in suburban Detroit that churns out hot donuts and ice-cold cider slushies. Between bites, we asked visitors to assess the state of their wallets three weeks before Election Day.

"I would say most are struggling, if I'm being honest," one woman said. Another man offered, "I don't feel great about the economy right now."

Jeffrey Robinson, a high school principal, put it succinctly: "It sucks," he said. "We have parents that carpool that are finding it hard to keep gas in the car."

If it seems like people are feeling especially gloomy about the economy, Joanne Hsu has the proof. She runs the nation's longest-running consumer sentiment survey at the University of Michigan. It dates back to 1946. She says that, since the start of the Iran conflict, "We've been seeing quite a bit of decline in consumer sentiment across the board, across all walks of life."

In fact, Hsu says, consumer sentiment is lower than almost any other time in modern history – including the…

Original source: https://www.cbsnews.com/moneywatch/