WiremarketsDextape brief
Record 41% of Americans Expect Their Finances To Get Worse Over the Next Year, More Than Double 2024 Levels
A record share of Americans now expect their personal finances to get worse over the next year. About 41% of US consumers expect to be worse off financially a year from now, the Kobeissi Letter says, citing the University of Michigan’s Surveys of Consumers.
Dextape brief
Americans are increasingly pessimistic about their budgets, with about 41 percent of US consumers expecting to be worse off a year from now, according to the Kobeissi Letter citing University of Michigan surveys. That share has more than tripled since the second quarter of 2024. Looking five years out, 31 percent foresee weaker finances. The latest report shows 56 percent now blame high prices for dragging on their budgets, up from 45 percent in January. Survey director Joanne Hsu said purchasing power remains the main driver of views, with sentiment 10 percent below a year ago and 15 percent below February, before the Iran conflict. The Consumer Sentiment Index was 48.0 in October, slightly under September's 48.1 and down from 53.6 twelve months earlier.
Why it matters: Record consumer pessimism about personal finances gives crypto readers a gauge of broader economic sentiment.
Read the full story
Mentioned in this story
Open a coin page for its current price.