US Consumer Confidence Plunges to Historic Low
The institution’s finalized consumer sentiment indicator slid to 49.8 in April, compared with 53.3 in March, representing a 6.6% drop over the month. Additionally, the reading declined by 4.6% relative to the same period a year earlier.
The gauge measuring present economic circumstances decreased to 52.5 from March’s 55.8. Meanwhile, the metric tracking consumer outlook fell to 48.1, down from 51.7 previously.
“Consumer sentiment ticked down 3.5 index points this month, now comparable to the trough seen in June 2022,” stated Joanne Hsu, head of the university’s Surveys of Consumers.
Hsu explained that decreases in confidence were evident across political affiliations, income brackets, age categories, and education levels. She also indicated that anticipated business conditions weakened over both the near and distant future.
She added that confidence showed only slight improvement after a temporary two-week cease-fire was declared and fuel costs eased marginally.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
