(AURN News) — New data from the University of Michigan shows continued trouble for the U.S. economy, as consumer sentiment dropped 11% since March and more than 40% since December.
No generation or demographic was unscathed by the decline, which reflects deepening concern over business conditions, inflation, and the labor market.
“Consumers report multiple warning signs that raise the risk of recession: expectations for business conditions, personal finances, incomes, inflation, and labor markets all continued to deteriorate this month. The share of consumers expecting unemployment to rise in the year ahead increased for the fifth consecutive month and is now more than double the November 2024 reading and the highest since 2009,” the University said.
Inflation expectations for the year ahead rose from 5% in March to 6.7% this month, as Americans continue to worry about the high cost of living they’ve been burdened with.
The latest report comes as President Donald Trump’s second term continues on an economic roller coaster, marked by tariff wars and elevated inflation.
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