US consumer confidence drops unexpectedly to near-recession levels ahead of Trump's 2nd term

[CatWoman]

American consumers are feeling less confident about the economy just weeks before Donald Trump's return to office, according to new data.

The Conference Board's index measuring US consumers' sentiments dropped 8.1 points to 104.7 in December, coming in under consensus expectations for an increase, the nonprofit think tank said on Monday.

The index seeks to capture consumers' assessments of the business and labor market and their views on where things could be headed in the coming months.

The latter weighed heavily on this month's decline, with the Expectations Index — which measures consumers' short-term outlook on income, business, and the labor market — falling 12.6 points to a five-month low of 81.1, the organization said.

That's close to the threshold of 80, which typically signals a recession, the Conference Board said in a press release.

The data marks a steep turnaround after two months of growing consumer optimism.

https://www.businessinsider.com/consumer-confidence-recession-signal-trump-tariffs-politics-inflation-2024-12

[CousinIT]

1. President asshole and Trump haven't even squatted in the Oval yet...

...and already they are destroying the US Economy.

Greaaat.

[0rganism]

2. Fake news, doncha know?

When TSF takes over, we'll hear all the Good News, because that's all there will be. Sweetness and sunshine all day long! If you're not doing fabulously it's cos you're a socialist sinner being punished by the Almighty for transgressions against His anointed earthly servants.

The downfall will somehow be simultaneously truly epic and grossly pathetic to behold.

[Igel]

3. More details.

Since knowledge is good and Business Insider is just reporting on the contents of a report.

https://www.conference-board.org/topics/consumer-confidence/

[Scrivener7]

4. I'm preparing now to spend as little money as possible for the next 4 years.

No buying, and if I travel, I'll travel out of the country.

There are many good reasons to do this. First, I will participate as little as possible in the economy of the fascist guy. Second, we consume way too much. This will be an exercise in learning how not to do that. Third, it's always nice to save money.

[eppur_se_muova]

5. "Unexpected" ??? SRSLY ??

If Al Capone had been appointed to Treasury, a more positive outlook would have been justifiable.

[Mike 03]

6. This is interesting.

There may be what appears to be a bump in holiday spending year-over-year, but an informal survey of just people I know and a strong suspicion tell me that the spending happening right now is more about getting ahead of tariffs, and also stocking up on various staples and retail supplies--something I think began as far back as late Summer over election fears.

[yardwork]

7. Makes sense. At least half the country didn't vote for him.

We don't want him and we're worried about what he'll do.

[CatWoman]

8. whenever someone tried to explain to him how tarrifs work, he'd stubbornly argue and say they were wrong

FAFO indeed