U.S. consumer confidence has fallen to its lowest level since the early months of the COVID-19 pandemic, driven by growing economic anxiety over tariffs and fears of a potential recession, according to new data released Tuesday.
The Conference Board’s consumer confidence index dropped sharply to 86 in April, marking a fifth consecutive monthly decline. Nearly one-third of Americans now anticipate slower hiring in coming months – a level last seen during the 2009 Great Recession. The AP-NORC Center survey reveals half of U.S. residents worry about recession risks, as tariff-driven price hikes exacerbate financial strain.
Carl Weinberg, chief economist at High Frequency Economics, warned that weakening sentiment could lead to reduced consumer spending, further threatening economic growth. “Rattled consumers spend less than confident consumers,” he noted.
Short-term expectations for income, jobs, and business conditions also plummeted to a 13-year low, signaling deepening pessimism. Analysts attribute the downturn to lingering global trade tensions and inflationary pressures impacting household budgets.
