Consumer Confidence plunged to the lowest level in over a decade and missed expectations badly

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WASHINGTON, Jan 27 (Reuters) – U.S. consumer confidence slumped to the lowest level in more than 11-1/2 years in January amid mounting anxiety over a sluggish labor market and high prices, which could see households becoming more cautious about spending.
The surprise deterioration in confidence reported by the ​Conference Board on Tuesday was across political party affiliation, with survey respondents identifying as Independents the most pessimistic. It could add to pressure on President Donald Trump to address what economists ‌and opponents have called an affordability crisis, which they have blamed on his policies, including sweeping tariffs on imports.

While the relationship between confidence and consumer spending has been weak, some economists were concerned about the slump being accompanied by poor perceptions of the labor market. Consumers’ views of job availability were the weakest in nearly five years.

https://www.reuters.com/business/us-consumer-confidence-slumps-january-level-last-seen-2014-2026-01-27/

https://www.marketwatch.com/story/happy-new-year-americans-are-in-a-foul-mood-despite-a-seemingly-strong-u-s-economy-023bcbdb

 

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