In February, U.S. consumer confidence experienced its largest drop in over four years, falling from 105.3 to 98.3, as reported by the Conference Board. This decline has raised concerns among economists and investors, particularly given the significant increase in consumer pessimism regarding inflation, a potential trade war, and future employment prospects. The report indicated that the short-term expectations sub-index plummeted, hinting at possible recession indicators, with a growing number of respondents fearing an economic downturn in the coming year.
The Conference Board's report showed a significant drop in consumer confidence index from 105.3 in January to 98.3 in February, the biggest decline in over four years.
With a notable rise in concerns over inflation and trade tariffs, the index's drop indicates a potential recession, as consumers expect economic downturns ahead.
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