U.S. Consumer Confidence Declines Amid Economic Concerns

According to PANews, the final U.S. consumer confidence index for March remained consistent with the preliminary data released earlier this month, marking the third consecutive monthly decline. The index fell sharply by 12% compared to February, while the expectations index plummeted by 18%, accumulating a drop of over 30% since November 2024. This month's decline reflects a clear consensus across various demographic and political groups, including Republicans, independents, and Democrats, who have all reported worsening expectations regarding personal finances, business conditions, unemployment, and inflation since February. Notably, two-thirds of consumers anticipate a rise in unemployment over the next year, the highest level since 2009. Given that a robust labor market and income have been key drivers of consumer spending in recent years, this trend highlights a significant vulnerability within the consumer sector. Concerns persist among consumers about potential economic challenges amid shifting economic policies.