(AURN News) — The U.S. economy continues to take a beating under President Donald Trump‘s second term, with consumer confidence plunging to levels not seen since the early 1980s.
The University of Michigan’s Surveys of Consumers reported that its sentiment index slipped from 57.0 in March to 52.2 in April, marking the fourth straight month of declines.
“Expectations have fallen a precipitous 32% since January, the steepest three-month percentage decline seen since the 1990 recession,” said Surveys of Consumers Director Joanne Hsu.
“While this month’s deterioration was particularly strong for middle-income families, expectations worsened for vast swaths of the population across age, education, income and political affiliation. Consumers perceived risks to multiple aspects of the economy, in large part due to ongoing uncertainty around trade policy and the potential for a resurgence of inflation looming ahead. Labor-market expectations remained bleak,” she said in a statement.
Meanwhile, Americans’ expectations for year-ahead inflation jumped to 6.5% in April, up from 5.0% in March — the highest reading since 1981. The Surveys of Consumers data underscore growing uncertainty and concern among American households, much of it tied to Trump’s trade and economic policies.
The sobering figures arrive just days before the president marks his 100th day in office next week, a milestone typically used to showcase early achievements. Instead, the metrics paint a picture of eroding confidence as the administration grapples with lingering questions over tariffs, trade agreements and continued inflation.
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