Consumers were less confident in the economy in December as Americans grow anxious about high prices and the impact of President Donald Trump’s sweeping tariffs.
The Conference Board said Tuesday that its consumer confidence index fell 3.8 points to 89.1 in December from November’s upwardly revised reading of 92.9. That is close to 85.7 reading in April, when Trump rolled out his import taxes on U.S. trading partners.
A measure of Americans’ short-term expectations for their income, business conditions and the job market remained stable at 70.7, but still well below 80, the marker that can signal a recession ahead. It was the 11th consecutive month that reading has come in under 80.
Consumers’ assessments of their current economic situation tumbled 9.5 points to 116.8.
Write-in responses to the survey showed that prices and inflation remained consumers’ biggest concern, along with tariffs.
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