Us Consumer Confidence Drops by Most Since 2021 on Outlook
The Conference Board's gauge of confidence decreased 7 points in February to 98.3, marking the third straight decline, data released Tuesday showed. The drop in confidence was broad across age groups and incomes, with consumers more pessimistic about current and future labor-market conditions, as well as the outlook for incomes and business conditions. Perceptions of present and future financial situations worsened, and the share of respondents expecting a recession in the next year rose to a nine-month high.
- The widening confidence gap reflects deeper concerns among US households about the long-term implications of the current economic landscape, suggesting that policymakers may need to revisit their strategies for addressing inflation and labor market challenges.
- How will the evolving dynamics of consumer sentiment impact the trajectory of economic growth in the United States over the next few years?