Global Financial Crisis Coming Soon with David Stryzewski

April 27, 2023

David Stryzewski is back. If you know where the Consumer is going, you will know where our economy is headed. U.S. Consumer Confidence declined in April from 104 to 101. The survey began on April 3 (about three weeks after the bank failures). The Expectations Index—based on consumers’ short-term outlook for income, business, and labor market conditions—fell to 68.1 from 74.0. The Expectations Index has now remained below 80—the level associated with a recession within the next year. This type of reading points to Consumers spending less and saving more over the next year. One thing particularly concerning was that this Survey showed deterioration in expectations for consumers under 55 years of age whose households earned over $50,000. This is the group who tends to spend the most money.

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