US Consumer Confidence Drops to 13-Year Low Amid Inflation, Tariff Fears

U.S. consumer confidence plummeted in April to its lowest level since the early months of the COVID-19 pandemic, with The Conference Board's index dropping for the fifth consecutive month. The sharp decline is attributed largely to growing anxieties over tariffs, particularly those recently imposed on Chinese goods, as well as concerns about inflation, employment, and future income prospects. Expectations for the future fell to a 13-year low, with nearly a third of Americans anticipating fewer jobs and worsening business conditions, levels not seen since the Great Recession. Tariffs have become a top worry for consumers, with businesses warning of potential price hikes and import charges. Financial market volatility and expectations of declining stock prices have further deepened consumer pessimism. These trends suggest that fears of recession are mounting, with consumers increasingly concerned about both the broader economy and their personal financial situations.