American optimism about the economy has plunged to levels not seen since May 2020, with consumer confidence dropping for the fifth straight month as tariffs and recession fears rattle households. 🌍
The Conference Board’s closely watched index fell sharply to 86 in April—down nearly 8 points—with nearly 1 in 3 Americans anticipating fewer job opportunities ahead. 📉 This gloom matches levels last seen during the 2009 Great Recession, according to Tuesday’s report.
💡 Why it matters: "Rattled consumers spend less," warns economist Carl Weinberg. With half of U.S. residents fearing a recession (AP-NORC survey), everyday spending could slow, creating a ripple effect for global markets.
🔍 Behind the drop: Anxiety spiked as tariffs imposed during the Trump era continue to drive price hikes. Meanwhile, short-term expectations for incomes and jobs plunged 12.5 points—the steepest decline in over 13 years.
⚡ What’s next: Analysts are watching closely to see if tightened wallets will derail post-pandemic recovery. Stay tuned for May’s numbers! 👀
