New York: The Conference Board's US Consumer Confidence Index has plunged to its lowest level since August 2020, dropping 7.9 points to 86 in April. This decline comes amidst growing concerns over tariffs and economic conditions, as revealed in data released Tuesday.

According to Anadolu Agency, the figure for March was revised up to 93.9, while the markets had anticipated a more modest decrease with an April figure of 87.7 points. The Present Situation Index, which gauges American consumers' perceptions of current job and labor market conditions, saw a slight decrease of 0.9 points, landing at 133.5 in April.

The Expectations Index, reflecting consumers' short-term predictions regarding income, jobs, and labor market conditions, experienced a significant drop of 12.5 points to 54.4. This figure is notably below the threshold of 80, which signals an anticipated recession within the next year, and represents the lowest level recorded since October 2011.

Stephanie Guichard, senior economist at The Conference Board, stated, "Consumer confidence declined for a fifth consecutive month in April, falling to levels not seen since the onset of the COVID pandemic." She highlighted that business conditions, employment prospects, and future income expectations have all seen a sharp downturn, spreading economic concerns to consumers' personal situations.

Guichard also pointed out that the high financial market volatility in April has further soured consumers' perspectives on the stock market, with 48.5% expecting a decline in stock prices over the next year-the highest share since October 2011. Additionally, she noted that the 12-month average inflation expectations have reached 7%, marking the highest since November 2022.