The US Consumer Confidence Index has dropped for three consecutive years, and pessimism is spreading among all parties

According to a report by Golden Ten, the final value of the US Consumer Confidence Index is consistent with the preliminary data at the beginning of this month, declining for the third consecutive month, with a significant drop of 12% compared to February. The expected index has sharply decreased by 18%, with a cumulative decline of over 30% since November 2024. This month's decline reflects a clear consensus among all groups with different demographic characteristics and political orientations: since February, Republicans, like independents and Democrats, have had deteriorating expectations for their personal financial situation, business environment, unemployment, and inflation. Consumers are still concerned that they may face economic difficulties in the constantly changing economic policy context. It is worth noting that two-thirds of consumers expect the unemployment rate to rise in the next year, which is the highest value since 2009. Given that the strong labor market and income have been the main drivers of consumer spending in recent years, this trend reveals a key vulnerability of the consumer group.