In June, American consumer confidence declined sharply to a level of 93, down by 5.4 points from May, primarily influenced by worries about President Trump's tariff policies. This decline surprised economists who anticipated growth following May's modest increase. The drop in confidence affected all demographics, with the largest decrease seen among Republicans. Additionally, participants expressed heightened recession expectations, with a notable reduction in optimism about future job opportunities and economic conditions.
American consumers felt worse about the economy this month compared with May and were bracing for a potential recession, largely due to concerns over President Donald Trump's tariff policies.
Stephanie Guichard, senior economist at the Conference Board, noted in a statement that June's decline in consumer sentiment wiped out almost half of May's gains and was "broad-based across components, with consumers' assessments of the present situation and their expectations for the future both contributing to the deterioration.
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