Americans are not optimistic about today's economy — or its future. They are not buying Trump's "everything will be great" rhetoric. In May, after TACO chickened out on his China tariffs, there was a brief uptick in sentiment. In June, consumer confidence soured again — reflecting the negative trend since the Inauguration.
Note: The numbers are from the Conference Board — a business analytics group that has published its well-regarded Consumer Confidence Index since 1967.
This is how Bloomberg reported the news, which was even worse than the experts predicted. (It makes you wonder why they are called ‘experts’.)
US consumer confidence unexpectedly declined in June, underscoring lingering anxiety about the potential impacts on the economy and job market from higher US import duties.
The Conference Board's gauge of confidence decreased 5.4 points to 93, data showed Tuesday. The figure was below all estimates in a Bloomberg survey of economists.
A measure of consumer expectations for the next six months dropped 4.6 points, as the share of respondents anticipating better business conditions fell by the most in more than two years. The gauge of present conditions fell 6.4 points.
The Conference Board expanded on consumer outlook.
The Expectations Index—based on consumers' short-term outlook for income, business, and labor market conditions—fell 4.6 points to 69.0, substantially below the threshold of 80 that typically signals a recession ahead.
ABC News noted that the decline in optimism was evident across all demographics. However, it was particularly severe among Trump's biggest fans.
The fresh data resumes a trend of worsening consumer confidence that stretches back to the outset of 2025. Last month, a burst of enthusiasm appeared to snap the malaise but fresh data suggests shoppers remain concerned about the path of the US economy.
The decline in consumer confidence took hold across all age, income demographics and political affiliations, the Conference Board said, noting an especially large dropoff among Republicans.
The American economy is one of the nation's crown jewels. It has withstood greedy bankers, subsidized inefficiency, dumbass politicians, cheap foreign manufacturing, stock price-obsessed CEOs, energy price gyrations, crony capitalism, tariff insanity, the concentration of idle money in the hands of the 1%, federal deficits, and national debt.
However, at some point, the American economy will follow the path of all great economic empires and pass the crown to a new kid on the block. Flag-waving America firsters may believe that MAGA is a plan for permanent prosperity. But with a serial bankrupt in charge — a man who won't listen to reason and whose self-confidence belies his ability — the end will be sooner rather than later.
Sic transit gloria Americae.
