Part 7/11:
Consumer sentiment has plummeted to its lowest level since May 2022, with the Consumer Confidence Index dropping eight points to 86. Even more concerning is the Expectations Index, which fell 13 points to 54—its lowest since October 2011. Such a low reading warns of increased chances of recession, as consumers tend to cut back on spending when their outlook sours.
This broad erosion of confidence spans all age groups and income levels. The decline underscores growing economic anxiety among Americans, potentially fueling reduced spending and further weakening economic momentum.