Consumer confidence sinks to lowest level since May 2020

Washington
CNN
 — 

Americans continue to grow uneasy about the economy as President Donald Trump wages an erratic trade war that could send US inflation rising and even trigger a recession.

Consumer confidence sank 7.9 points in April to a reading of 86, the Conference Board said in its latest survey released Tuesday. That’s the lowest level since May 2020 and a larger decline than economists had projected. The survey’s Expectations Index, which captures people’s outlook on the economy, plummeted 12.5 points this month to 54.4, the lowest level in 13 years.

The share of Americans anticipating a recession in the year ahead climbed to a two-year high, the survey showed.

As the Trump administration reaches its 100th day in power, various surveys and polls continue to show growing pessimism among US consumers. Their spending is the source of America’s economic might, powering about 70% of its output.

Since taking office in January, Trump has pushed a chaotic tariff regime, slashed the federal workforce, clamped down on immigration and attacked the Federal Reserve. Not only have Trump’s actions unsettled consumers, but they’ve also sent a chill down Wall Street’s spine.

This story is developing and will be updated.