US consumer confidence drops unexpectedly to near-recession levels ahead of Trump's 2nd term
American consumers are feeling less confident about the economy just weeks before Donald Trump's return to office, according to new data.
The Conference Board's index measuring US consumers' sentiments dropped 8.1 points to 104.7 in December, coming in under consensus expectations for an increase, the nonprofit think tank said on Monday.
The index seeks to capture consumers' assessments of the business and labor market and their views on where things could be headed in the coming months.
The latter weighed heavily on this month's decline, with the Expectations Index — which measures consumers' short-term outlook on income, business, and the labor market — falling 12.6 points to a five-month low of 81.1, the organization said.
That's close to the threshold of 80, which typically signals a recession, the Conference Board said in a press release.
The data marks a steep turnaround after two months of growing consumer optimism.
https://www.businessinsider.com/consumer-confidence-recession-signal-trump-tariffs-politics-inflation-2024-12
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