In April, consumer sentiment plummeted to 52.2, a stark 8.4% drop since March and down 32.4% year-over-year. This decline is affecting all demographics, with inflation expectations rising to 6.5%. The turmoil followed Trump's shocking global tariff announcement on April 2, leading to immediate market instability. While a temporary pause on the tariffs was enacted, the housing market faces uncertainty, with rising mortgage rates and decreased applications. Buyers are opting to wait for clarity, as inventory continues to increase amid concerns over long-term impacts from the tariffs.
The decline in consumer sentiment is most prevalent among the middle class, reflecting a growing uncertainty about the economy, further fueled by recent tariff announcements.
Trump's announcement of a new global tariff regime shocked markets, leading to a decline in consumer confidence and a subsequent pause on the levies soon after enforcement.
Collection
[
|
...
]