Consumer confidence in the United States experienced its largest monthly decline since August 2021 in February

According to a report by Golden Ten, consumer confidence in the United States dropped significantly in February, and pessimism about the future has resurfaced. According to data from the consulting committee, the consumer confidence index fell 7 points to 98.3 in February, and the expected index fell 9.3 points to 72.9. Since June 2024, the Expectation Index has fallen below the 80 threshold indicating an economic recession for the first time. Stephanie Guichard, Senior Economist at the Chamber of Commerce, stated, "The Consumer Confidence Index experienced its largest monthly decline since August 2021 in February, marking the third consecutive month on month decline and bringing the index to the bottom of its range since 2022. Among the five components, only consumers' assessment of the current business situation has slightly improved. Consumers have become pessimistic about the future business environment and their optimism about future income has also declined. Pessimistic sentiment about future employment prospects has risen to a ten month high." Guichard added, "The 12-month average inflation expectation has surged from 5.2% to 6% in February. Inflation and general prices are still mentioned high in response to letters, but the focus has shifted to other topics. Trade and The mention rate of tariffs has sharply increased, returning to the level since 2019