Recent data indicates a sharp decline in consumer confidence due to policy uncertainty and fears surrounding inflation, particularly as Americans prepare for potential economic pain in President Trump’s second term. The University of Michigan's survey reflected an 11 percent decrease in consumer sentiment in March, marking the third consecutive month of decline. Consumers expressed rising concerns about personal finances, job markets, and inflation expectations, with forecasts for the next year reaching 4.9 percent. Experts suggest that economic policies and the drop in stock prices have severely impacted consumer outlook and confidence.
"Consumer sentiment plummeting 11 percent in March as Americans became more downbeat about the economy illustrates how policy uncertainty is affecting consumer confidence."
"Frequent gyrations in economic policies make it very difficult for consumers to plan for the future, regardless of one's policy preferences," said Joanne Hsu.
"Elevated economic policy uncertainty and the sharp drop in stock prices have greatly undermined consumers' confidence," stated Samuel Tombs.
"Over the next 12 months, consumers expect inflation to rise to 4.9 percent, demonstrating a significant increase in inflation concerns among Americans."
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