In a surprising twist for the U.S. economy, consumer confidence has tumbled to its lowest level since the COVID-19 pandemic began. The Conference Board noted a 7.9 point drop in April, bringing the index down to 86—the lowest reading since May 2020.
Nearly one-third of Americans now expect hiring to slow, a situation mirroring the caution seen in April 2009 during the Great Recession. Many are worried that the widespread tariffs imposed by President Donald Trump could trigger a rise in prices, adding to the overall unease. As economist Carl Weinberg puts it, "Rattled consumers spend less than confident consumers." 😟
Short-term expectations for income, business conditions, and the job market took an even steeper dive, plummeting 12.5 points to 54.4—a level not seen in over 13 years. For young professionals, students, and anyone watching the economic pulse, these trends serve as a clear signal: cautious times may be ahead.
Stay informed as we continue to follow these developments, exploring what this downturn might mean for everyday spending, investments, and the future of the U.S. economy.
Reference(s):
cgtn.com
