7 months ago • 0:53 mins
There are all sorts of organizations that check in on how everyday Americans are feeling about the economic backdrop, and this month’s data from a couple of them doesn’t bode well. The US Conference Board consumer confidence index hasn’t been this low since February 2021, which is down to a drop-off in how people are feeling about the short-term outlook for income, business, and labor conditions. The University of Michigan consumer confidence index, meanwhile, skips the wider business questions and focuses on how consumers are feeling about their own finances. Not great, apparently: the metric just hit its lowest reading ever.
Both measures add to a pile of evidence that suggests we’re headed for a more rapid US slowdown and dip into recession than most economists are forecastin
But you might want to wait for a pullback before jumping in.
And a few good reasons to still be cautious.
Historically, this has been bad news for stocks.