Consumer confidence sinks to 8-month low on worries about inflation and Trump tariffs

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Cypress

Well-known member

Consumer confidence sinks to 8-month low on worries about inflation and Trump tariffs​



A postelection high in consumer confidence after Donald Trump’s victory has petered out, as the public digests major upheavals in U.S. economic policies such as trade and tariffs.

The index of consumer confidence dropped 7.0 points in February to an eight-month low of 98.3, the privately run Conference Board said Tuesday.

The decline was the third in a row since the index hit a 16-month peak of 112.8 in November.


 
Cypress said:

Consumer confidence sinks to 8-month low on worries about inflation and Trump tariffs​



A postelection high in consumer confidence after Donald Trump’s victory has petered out, as the public digests major upheavals in U.S. economic policies such as trade and tariffs.

The index of consumer confidence dropped 7.0 points in February to an eight-month low of 98.3, the privately run Conference Board said Tuesday.

The decline was the third in a row since the index hit a 16-month peak of 112.8 in November.


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I predict it gets worse.
 
Cypress said:

Consumer confidence sinks to 8-month low on worries about inflation and Trump tariffs​



A postelection high in consumer confidence after Donald Trump’s victory has petered out, as the public digests major upheavals in U.S. economic policies such as trade and tariffs.

The index of consumer confidence dropped 7.0 points in February to an eight-month low of 98.3, the privately run Conference Board said Tuesday.

The decline was the third in a row since the index hit a 16-month peak of 112.8 in November.


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Notice how quickly Trump conceded...and declared victory LOL....once the stock market tanked and inflation spiked up on his tariff announcement against both Canada and Mexico.

Where is the talk about tariffs now? His militant threats against Panama and Greenland? It's all been dropped as Trump moved onto something else like personally counting the gold bars at Fort Knox.
 
Phantasmal said:
I predict it gets worse.
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A good possibility but Trump hates to see his numbers drop. He's a populist with a fragile ego. He needs to be liked. He likes money more but being liked is near the top of his list.

As noted above, notice how quickly he has moved from different topics. He did this in his rallies.* He's talk about something and, if it drew applause, he'd keep talking about it. If the crowd response was less enthusiastic then he'd quickly move onto something else. He was quite the showman.


*More so when he was at the top of his game, not so much nowadays.
 
Dutch Uncle said:
Notice how quickly Trump conceded...and declared victory LOL....once the stock market tanked and inflation spiked up on his tariff announcement against both Canada and Mexico.

Where is the talk about tariffs now? His militant threats against Panama and Greenland? It's all been dropped as Trump moved onto something else like personally counting the gold bars at Fort Knox.
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Trump is a bullshitter. He's never going to force Mexico to pay for the wall, he's never going to make Canada the 51st state, he is never going to acquire Greenland, and he's going to chicken our from ever imposing across the board 25 percent tariffs on Canada/Mexico.
 
BartenderElite said:
Supposedly, the Biden economy was the worst ever - while millions of jobs were being added, and the stock market was breaking records.

I have a hunch people are going to get pretty nostalgic about that terrible Biden economy.
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It's why Trump's numbers on the economy are underwater.

www.newsweek.com

Donald Trump's support over handling of economy evaporates

Trump's policies are facing growing criticism from voters as the nation grapples with rising inflation and economic uncertainty.
www.newsweek.com www.newsweek.com
Previous polling showed that the economy was the most important issue to voters in the 2024 election—with many casting their ballots for Trump, who was inaugurated last month, hoping he would fulfill his pledge to curb inflation while revitalizing U.S. trade and industry.

But the U.S. economy has been tumultuous in recent years as the country recovers from the effects of the COVID-19 pandemic, and recent data shows prices rising, leaving voters dissatisfied with Trump's management of the economy....

...A Reuters/Ipsos poll conducted between February 12 and 18 showed that Trump's overall approval rating fell to 44 percent. In a January 24 to 26 poll, it was 45 percent, and it was 47 percent in a January 20 to 21 poll. Polling by Emerson College has shown a similar trend.

According to CNN pollster Harry Enten, this is being driven by growing voter dissatisfaction with Trump's handling of the economy. An Ipsos poll from February 2017, during Trump's first term, showed his approval rating on the economy at +16 points, while a Quinnipiac University poll from the same time showed his approval rating at +6. However, Ipsos polling from February 13 to 18 shows his approval rating on the economy at -8, while Quinnipiac's poll from this month, conducted between February 13 and 17, shows it at -4.

Other polls have also shown Trump's approval rating on the economy dropping. According to the Reuters/Ipsos poll conducted between February 12 and 18, 53 percent of Americans believed the economy was on the wrong track, up from 43 percent in the organizations' January 24 to 26 poll. Meanwhile, a YouGov/Economist poll from February 16 to 18 showed 46 percent of voters approve of Trump's handling of the economy, while 42 percent disapprove. That is down from January 26 to 28 when 49 percent of voters approved and 37 percent disapproved.
 
Cypress said:
Trump is a bullshitter. He's never going to force Mexico to pay for the wall, he's never going to make Canada the 51st state, he is never going to acquire Greenland, and he's going to chicken our from ever imposing across the board 25 percent tariffs on Canada/Mexico.
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Agreed on bullshitter. He's a salesman....which is often the same thing. LOL

He's also a populist. He'll say whatever it takes to keep him popular, but what he does is often motivated by his craving for money.
 

Americans are getting fed up with the economy. Does that mean we’re heading into a recession?​

American consumers and businesses are feeling uneasy, fearing higher inflation is lurking around the corner as President Donald Trump talks massive tariffs. That’s raising questions on what America’s souring economic mood means for spending, hiring and the future of the world’s largest economy.

“The kinds of changes that are occurring under Trump are arguably unprecedented, and it’s making people very nervous,” Mark Zandi, chief economist at Moody’s, told CNN. “If confidence continues to fall for another three months, and consumers actually pack it in, then game over.”

Inflation fears, due to Trump’s tariffs, are putting America on edge, according to various surveys: Consumer confidence fell sharply in February, registering its sharpest monthly decline since August 2021, The Conference Board said Tuesday. The National Federation of Independent Business, which has been collecting data since 1973, reported its third-highest reading ever on its Uncertainty Index for January.

Pessimism is also becoming apparent on Wall Street. Investor sentiment on Tuesday shifted into “extreme fear,” which hasn’t happened since December, according to CNN’s Fear & Greed Index.

 
Consumer confidence is actually worse than the statistics say it is. The survey treats all consumers as equal, where as the economy weighs consumers based on consumption(related to income, but not exactly income). Higher consuming consumers are scared. Lower consuming consumers assume everything is going to work out into some sort of "golden age."
 
Damocles said:
You should put it in one of the prediction threads so we can track it and give you kudos if you are right... (or conversely mock you incessantly if you are wrong).
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It is not a prediction. It has already happened. We can make predictions on what is happening, but consumer confidence has already fallen. Again, that is not a prediction.
 
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