Americans’ Economic Confidence Hits Lowest Point Since Pandemic
By Christopher Rugaber, Associated Press
WASHINGTON (AP) — Consumer confidence in the U.S. economy has continued to decline, recording its fifth consecutive month of falling sentiment and reaching its lowest level since May 2020. The Conference Board reported a 7.9-point drop in the consumer confidence index for April, now sitting at 86. This downward trend signals growing unease among Americans, with nearly one-third anticipating a slowdown in hiring, reminiscent of the Great Recession’s dark days in 2009.
Concerns over inflation, exacerbated by widespread tariffs, are fueling a pessimistic outlook. About fifty percent of respondents fear a recession is imminent, as indicated by a recent AP-NORC Center survey. A key measure assessing short-term expectations for income and job conditions fell 12.5 points to 54.4, signaling potential downturn ahead.
The implications of this declining confidence for consumer spending and job growth will soon be evident, with U.S. economic growth data anticipated this week indicating a significant slowdown. Although hiring remains steady, economists predict a potential reduction in job creation. Financial markets also reflect this uncertainty, with major indices like the S&P 500 and Dow Jones experiencing losses this year.
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