March 31, 2025
February consumer confidence falls
CNN says Americans are increasingly worried about higher inflation and many more are afraid of rising unemployment.
“Consumers continue to worry about the potential for pain amid ongoing economic policy developments. Notably, two-thirds of consumers expect unemployment to rise in the year ahead, the highest reading since 2009.”
According to Fortune, while income and spending grew in February, the savings rate grew to the highest point since June signalling caution on the part of consumers. In addition, February’s Surveys of Consumers finds consumer sentiment fell by 11%.
“This month’s decline reflects a clear consensus across all demographic and political affiliations. Republicans joined independents and Democrats in expressing worsening expectations since February for their personal finances, business conditions, unemployment, and inflation.”