People feel so bad about the economy because of tariffs and inflation that consumer confidence sank to a 13-year low
From Yahoo Finance: 2025-04-29 10:49:00
Consumer confidence hits a 13-year low due to concerns over Trump’s tariff policies. Expectations for the future are at a 13-year low. The survey shows a drop in confidence across all age and income groups, with the sharpest decline among consumers aged 35-55 and households earning $125,000 or more annually.
The University of Michigan’s Surveys of Consumers also show a decline in consumer sentiment for the fourth straight month. Expectations have fallen 32% since January, the steepest three-month percentage decline since the 1990 recession. Consumers are worried about trade policy uncertainty and potential inflation.
Consumers are concerned about tariffs, inflation, and high prices impacting the economy. Many believe we are heading towards a recession due to trade policies. Companies like GM and Lululemon have adjusted their fiscal outlooks based on consumer confidence and tariff concerns.
Low consumer confidence is affecting foot traffic in the US, with Lululemon CEO noting a slowdown. CEO confidence in the economy has also decreased, with a majority predicting a slowdown or recession in six months. Walmart CEO acknowledges budget pressures affecting customer spending habits.
The Conference Board’s next survey findings will be released on May 27. CEO and consumer confidence are at multi-year lows, with worries about tariffs, inflation, and a potential recession affecting consumer behavior and corporate outlooks.