ROCHESTER, N.Y. – Consumer sentiment has reached a five-year low, impacting economic indicators. The Consumer Confidence Index has dropped for the fifth consecutive month. The Expectations Index, a key measure, fell 12.5 points to 54.4, the lowest since October 2011, officials said.

When consumers feel confident, we spend more. Conversely, when we feel pessimistic, we pinch pennies.

Economic uncertainty has also affected hiring. U.S. job openings decreased in March with employers posting about seven million openings compared to eight million the previous year. Despite this, the job market remains resilient, officials said.

NBC News learned the Trump administration is easing some tariff taxes for American automakers. Tariffs on imported vehicles and auto parts will remain, but will not be stacked with additional tariffs on metals. Currently, there is a 25% tariff on steel imports and a 10% tariff on aluminum.

Automakers will be reimbursed for some tariffs on imported parts, but the details of the reimbursement process have not been clarified, officials said.

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