Experts warn of slowing economy after score based on Americans’ financial outlooks fell by 32% since January
US consumer sentiment plummeted in April after Donald Trump’s trade war threw the global economy into chaos, according to a new report.
The index of consumer sentiment, a score based on a monthly survey asking Americans about their financial outlooks, fell by 32% since January – the largest drop since the 1990 recession, according to the University of Michigan’s Institute for Social Research.
“Expectations worsened for vast swaths of the population across age, education income and political affiliation,” said Joanne Hsu, director of the surveys of consumers, in a statement. “Consumers perceived risks to multiple aspects of the economy, in large part due to ongoing uncertainty around trade policy and the potential for a resurgence of inflation looming ahead.”
I won’t be able to afford Chinese goods which seems to be most of what’s sold in America now. American made will price match the Chinese goods quoting a competitive market. Right now I’m worried about affording food and rent.
Even if it’s made in the US, many of the raw materials aren’t, so the tariffs don’t even help US businesses.
Exactly why this shit is so stupid. I’m a buyer for a medical device manufacturer. I have domestic suppliers and global ones as well. Price is going up at both because of this jackassery. Also, I implore anyone who wants to make stuff here to take a flight out to Shanghai and go try n breathe.