Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
CIA spokesperson says law enforcement responded to a security incident outside CIA headquarters.
Brigadier General Saree: Operation achieved its targeted successfully, forcing millions of Zionists to flee to shelters, and halted air traffic at the airport.
YAF spokesperson: We've executed a military operation targeting Ben Gurion Airport in occupied Yafa with ballistic hypersonic missile.
IOF warning forces residents to evacuate and head South in preparation for expansion of aggression.
IOF issues large-scale evacuation orders for residents of 14 areas in northern Gaza.
Israeli media say that for second time in span of hours, a ballistic missile is launched from Yemen toward "Israel".
Israeli media say large explosion heard in central "Israel".
Israeli media: Missile launch from Yemen takes place at end of Yahya Saree's announcement.
Israeli media: Sirens blare in occupied Al-Quds.
Saree: Escalation of aggression on Gaza and the massacres committed necessitate urgent action by the [Arab-Islamic] nation to fulfill its moral and religious duty.

Study says US consumer confidence plunged in March amid Trump tariffs

  • By Al Mayadeen English
  • Source: Agencies
  • 14 Mar 2025 21:24
4 Min Read

Consumer confidence in the United States is facing an unexpectedly sharp decline, as Trump escalates his tariff policy targeting friends and foes alike.

Listen
  • x
  • President Donald Trump speaks to reporters during a meeting with NATO Secretary General Mark Rutte at the White House in Washington, Thursday, March 13, 2025 (AP)President Donald Trump speaks to reporters during a meeting with NATO Secretary General Mark Rutte at the White House in Washington, Thursday, March 13, 2025 (AP)

Consumer confidence in the United States has witnessed a sharp drop in March of 2025, much below what experts previously expected, according to a new study published on Friday.

The study conducted by the University of Michigan highlighted that the index measuring consumer confidence fell to 57.9 in March, a 6.8-point drop compared to last month's 64.7, with Trump's chaotic tariff policy sparking fears of high inflation.

The drop marks a 10.5% decrease this month and a 27.1% over the past year, while analysts expected a smaller decline, reaching 63.2, according to a survey published by MarketWatch.

"While current economic conditions were little changed, expectations for the future deteriorated across multiple facets of the economy, including personal finances, labor markets, inflation, business conditions, and stock markets," the University of Michigan stated.

"Many consumers cited the high level of uncertainty around policy and other economic factors," the statement noted, adding that "frequent gyrations in economic policies make it very difficult for consumers to plan for the future, regardless of one's policy preferences."

The University of Michigan index for February, which also saw a sharp decline, sent a jolt through financial markets as the sentiment and spending patterns of Americans play a crucial role in shaping the overall health of the US economy.

Related News

US terminates 44 overseas food programs over 'policy shift'

China slams US regulations on Huawei AI Chips, warns of legal action

Art Hogan, an analyst with Riley Wealth Management, told AFP that uncertainty has been growing since Trump initiated trade wars with both allies and rivals, adding that "announcements have been coming out haphazardly," noting that there is little surprise that sentiment is declining.

Robert Frick, an economist with Navy Federal Credit Union, stated in a note that while fluctuations in consumer confidence and sentiment typically don't translate directly into purchasing behavior, recent sharp declines alongside other factors suggest a potential slowdown in spending.

"This is bad news. People who fear losing jobs pull back on discretionary spending," said chief economist at Comerica Bank Bill Adams, adding that "people who are afraid the economy is headed into a ditch won't buy new cars or houses, go out to eat, or go on vacations."

Trump's tariffs shake up stock market

Uncertainty surrounding Trump’s trade policies and concerns that they could push the US into a recession have unsettled financial markets. Wall Street saw a second consecutive day of losses on Tuesday.

However, Trump dismissed concerns about his economic strategy, stating on Tuesday that he does not anticipate a downturn and downplaying the market declines. Trump’s trade policies have been marked by unpredictability. Less than 24 hours before the new tariffs took effect, he threatened to double the rate on Canadian steel and aluminum to 50%.

The move followed Canada’s Ontario province announcing an electricity surcharge on three US states in retaliation for earlier American tariffs. Trump reacted angrily, escalating tensions by suggesting plans to annex Canada.

The dispute led to a heated exchange of tariff threats between Washington and Ottawa. However, Ontario ultimately suspended the surcharge after negotiations with the US.

White House spokesperson Kush Desai said that Trump "used the leverage of the American economy" to "deliver a win for the American people."

  • United States
  • tariffs
  • US
  • Donald Trump

Most Read

YAF say struck 'Israel's' Ben-Gurion Airport with missiles, drones

YAF say struck 'Israel's' Ben Gurion Airport with missiles, drones

  • MENA
  • 18 May 2025
Israeli media: Yemen may push 'Israel' towards ceasefire in Gaza

Israeli media: Yemen may push 'Israel' towards ceasefire in Gaza

  • MENA
  • 17 May 2025
Rachel Accurso criticized for speaking out on Gaza children crisis

Ms. Rachel accused of antisemitism for speaking out for Gaza children

  • Politics
  • 20 May 2025
Martyrs, injuries in violent Israeli bombardment of southern Gaza

Israeli operation fails; IOF launch violent strikes on Gaza

  • Politics
  • 19 May 2025

Coverage

All
War on Gaza

Read Next

All
Telegram jumps to $540mn profit despite founder facing legal peril: FT
Technology

Telegram jumps to $540mn profit despite founder facing legal peril: FT

Ireland's Simon Harris speaks with the media as he arrives for a meeting of EU foreign ministers at the European Council building in Brussels, Monday, Jan. 27, 2025. (AP)
Politics

Ireland’s deputy premier accuses Israeli government of genocidal acts

Israeli occupation forces near military vehicles at the Gaza border (AP)
Palestine

WSJ: War fatigue grows in 'Israel' 19 months into war on Gaza

The facade of Trump Tower is shown in New York, Friday, March 22, 2024 (AP/Ted Shaffrey)
MENA

Trump Tower in Damascus: Inside Syria’s bold proposal

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS