🧐 Consumer sentiment in the US is at a "crisis level" according to The Kobeissi Letter. The consumer confidence index plummeted to 86 in April - the lowest since May 2020.
Pessimism about economic growth has spread across all age and income groups - people are starting to save, fearing unemployment and crisis.
Expectations for the future economy in the next 6 months have collapsed to 54 - the worst reading since October 2011. A value below 80 usually indicates an impending recession.