Economic Confidence in the U.S.

SOURCE apnews.com
Americans' confidence in the economy has slumped to the lowest level since the onset of the COVID-19 pandemic due to anxiety over tariffs. Consumers expect hiring to slow and are worried about a potential recession. The decline in confidence may lead to reduced spending and slower growth.

Key Points

  • Consumer confidence index fell to its lowest level since May 2020
  • Many consumers expect prices to rise due to tariffs
  • Concerns about potential recession and slow hiring
  • Sharp decline in short-term expectations for income, business conditions, and job market
  • Mentions of tariffs in consumer responses reached an all-time high

Pros

  • Insight into consumer sentiment regarding the economy
  • Information on the impact of tariffs on consumer confidence

Cons

  • Negative outlook on hiring and economic growth
  • Potential for reduced consumer spending