U.S. Consumer Confidence Plummets to Crisis Levels

AI Summary

According to BlockBeats, an analysis by The Kobeissi Letter reveals that U.S. consumer expectations for the economy have dropped to crisis levels. The consumer confidence index fell by 8 points in April, reaching 86, marking the weakest level since May 2020. This decline represents the fifth consecutive month of decreasing confidence, affecting all age groups and most income brackets.

Alarmingly, expectations for the next six months have decreased by 13 points, falling to 54, the lowest level since October 2011. Data from the Conference Board indicates that readings below 80 typically signal an impending economic recession. Americans' pessimism about the economic future is unprecedented.$BTC #Write2Earn