Consumer sentiment fell nearly 11% from March to April and 34% from this time last year, according to new data from University of Michigan’s authoritative survey, released Friday.
The drop continued a three-month trend brought about by Trump’s vow to impose tariffs on products imported to the U.S., a promise Trump fulfilled last week in what he called a “Liberation Day” ceremony at the White House.
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The Yale Budget Lab estimated the average household will be $4,700 poorer as a result of Trump’s tariff gamble.
I may be completely wrong. But I always took it to mean people spending less on stuff they can live without. Either because they can no longer afford it or are expecting something bad to happen on the wallet front
Bstix had the correct answer. These are regular surveys provided to different regions of the country to gauge sentiment. How do you feel about the economy today, what do you think about the future. They have a similar one that goes out to business leaders. When you look at the business confidence and consumer confidence you get a picture of how people in that area will spend, and invest money. It’s not anyones favorite data point, but it can be a strong indicator of recession.
I believe during covid consumer sentiment cratered first and the economy went after it.