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US consumer confidence plunges to lowest in 5 years on tariff worries

  • Consumer confidence dropped 7.9 points in April to a level of 86, marking the lowest point since May 2020, according to the Conference Board.
  • The Expectations Index fell 12.5 points to 54.4, the lowest level in 13 years, indicating a bleak outlook on the economy.
  • The share of Americans expecting a recession in the next year reached a two-year high, as shown by the survey.
  • Consumer pessimism has increased due to President Donald Trump's tariff regime and other economic actions, affecting both consumers and Wall Street.
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The New Republic broke the news in on Tuesday, April 29, 2025.
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