US consumer confidence fell this month by the most since August 2021 on concerns about the outlook for the broader economy, adding to a growing stack of indicators that uncertainty over President Donald Trump’s policies has Americans increasingly worried about their economic future.
The Conference Board’s gauge of confidence decreased 7 points in February to 98.3, marking the third straight decline, data released Tuesday showed. The figure was below all estimates in a Bloomberg survey of economists. Stocks and bond yields fell after the report.
The drop in confidence was broad across age groups and incomes. Consumers were more pessimistic about current and future labor-market conditions as well as the outlook for incomes and business conditions. Perceptions of present and future financial situations worsened and the share of respondents expecting a recession in the next year rose to a nine-month high.
That pessimism has Americans cutting back their spending: According to a new study from Wells Fargo, more than half of consumers are delaying major life plans due to uncertainty over the economy and the consequences of Trump’s tariff threats. Of those, about a third said they were putting off buying a home while one in six have postponed education plans—and one in eight have pushed back retirement. —Jordan Parker Erb
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