US Consumer Confidence Hits Pandemic-Era Low

In a worrying sign for the US economy, consumer confidence has plummeted to its lowest level since the onset of the COVID-19 pandemic. The Consumer Confidence Index dropped by 7.9 points in April, settling at 86.0, according to the latest data from The Conference Board.

Expectations Index Reaches 13-Year Low

The Expectations Index, a key indicator of future economic activity, fell sharply to 54.4, marking its lowest point in over a decade. This significant decline has raised alarms among economists about the potential for an upcoming recession.

Senior economist Stephanie Guichard highlighted the growing pessimism among consumers regarding future economic conditions. "The proportion of consumers anticipating fewer job opportunities is nearing levels last seen in April 2009," Guichard observed. Factors such as rising inflation expectations, stock market volatility, and concerns over tariff-induced price hikes have further exacerbated consumer anxiety.