Consumer pessimism at current levels last showed up during recessions like 2008 and the early 1980s. The gap between sentiment and economic data also looks like a typical pre-recession signal.
American consumers have NEVER been this pessimistic about the economy: The University of Michigan Consumer Sentiment Index fell to 49.8 in April, the lowest reading EVER in over 70 years of polling, with declines occurring across all income levels, ages, …
