Consumer confidence in the United States fell sharply for the fifth consecutive month in April, hitting its lowest level since the early months of the COVID-19 pandemic, according to new data released Tuesday by the Conference Board. The drop reflects growing anxiety over President Donald Trump's widespread tariffs and mounting fears of an economic slowdown.
The Conference Board's consumer confidence index slid 7.9 points to 86, its lowest reading since May 2020. "Americans' expectations for business conditions, job prospects, and future income all fell," Conference Board senior economist Stephanie Guichard said, reflecting "pervasive pessimism about the future."
The survey showed nearly one-third of consumers expect hiring to slow in the coming months, a level close to that recorded during the Great Recession in April 2009. "Notably, the share of consumers expecting fewer jobs in the next six months (32.1%) was nearly as high as in April 2009," Guichard said.
Consumers' short-term outlook also deteriorated significantly. The Conference Board's expectations index plunged 12.5 points to 54.4, the lowest figure in more than 13 years. Readings below 80 are typically viewed as signaling a recession ahead.
The weakening sentiment follows the Trump administration's imposition of a 10% tariff on nearly all imports and a 145% tariff on most goods from China, alongside separate tariffs on steel, aluminum, and automobiles. Mentions of tariffs in the Conference Board's write-in survey responses reached an all-time high this month.
"Rattled consumers spend less than confident consumers," Carl Weinberg, chief economist at High Frequency Economics, said in an email. "If confidence sags and consumers retrench, growth will go down."
Additional data from the Labor Department showed job openings fell by 288,000 in March, which economists cautioned could be an early sign of a cooling labor market. However, hiring was slightly up and layoffs were down compared to February, indicating that employment conditions remain steady for now.
Inflation expectations have also worsened. The average respondent now expects inflation of 7% over the next 12 months, the highest since the post-pandemic surge in 2022, according to the Conference Board.
The survey found that fewer Americans are planning major purchases. Plans to buy homes and cars declined, and the share of consumers planning to spend more on dining out plummeted by nearly the most on record in April. Only 16.4% of Americans said they plan to take an overseas vacation in the next six months, down sharply from 24.1% in December.
Major U.S. stock indexes, although recovering somewhat in recent days, remain lower for the year. The S&P 500 is down 6%, the Dow Jones Industrial Average has dropped 5%, and the Nasdaq Composite has fallen 10% in 2025.
