(AURN News) — Economic challenges continue and American wallets are being hit hard as the Trump administration settles into its second term, with headlines continuing to highlight layoffs and business closures nationwide. What began as Biden’s economy has now transitioned to Trump’s economy, yet consumer sentiment suggests ongoing difficulties.
The Conference Board’s Consumer Confidence Index declined 7 points in February, indicating continued economic concerns. The Present Situation Index decreased by 3.4 points, while the Expectations Index dropped more significantly, falling 9.3 points, according to data released by the nonpartisan think tank.
Americans between the ages of 35 and 55 showed the steepest decline in confidence, which shows that middle-aged consumers are particularly concerned about the current state of the economy.
One positive signal emerged from the report: home purchasing plans are recovering, which The Conference Board attributes to declining mortgage rates.
The Consumer Confidence Index is widely regarded as a key indicator of Americans’ feelings about the economy and their personal financial situations.
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