US consumer confidence drops by most since August 2021

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US consumer confidence drops by most since August 2021

^{Published on 2025-03-02 14:41:14 - MSN}

February's plunge in consumer confidence marks the third consecutive month-on-month decline, a concerning trend given that consumer spending accounts for about two-thirds of U.S

The article from MSN Money discusses a significant drop in U.S. consumer confidence, marking the largest decline since August 2021. According to the Conference Board, the consumer confidence index fell to 102.9 in May from a revised 103.7 in April. This decline was influenced by a more pessimistic outlook on future business conditions, job availability, and income prospects. Despite this downturn, the present situation index, which reflects consumers' assessment of current economic conditions, actually improved slightly. However, concerns about an economic slowdown and persistent inflation continue to weigh on consumer sentiment, with fears of a potential recession growing due to the Federal Reserve's efforts to manage inflation through interest rate hikes.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/other/us-consumer-confidence-drops-by-most-since-august-2021/ar-AA1A6cOA ]

Contributing Sources

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US consumer confidence drops by most since August 2021