Americans Are Feeling Less Confident Than Ever About Their Own Finances

Carl Hazeley

7 months ago0:53 mins

Americans Are Feeling Less Confident Than Ever About Their Own Finances

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

Limited introductory offer

Subscribe Now 50% Off

Get full access to daily stories, insights, deep-dives, interviews, podcasts, and more

Have an account? Log in