Fears of a recession are growing in the US

Fears of a recession are growing in the US
economyApr 25 ’23 7:15 PMAuthor of the book: AP

Consumer confidence in the U.S. fell to a nine-month low this month, according to a U.S. survey. Consumers mainly fear recession in the future.

According to the Conference Board of Market Analysts, US consumer confidence fell to 101.3 in April, the lowest level since July last year. This is lower than expected by market experts.

Also Read | The US economy is growing faster than expected

Consumer confidence in the US fell to a nine-month low this month. (Unsplash)

Americans over 55 and households with annual incomes above $50,000 are particularly in the dark. Consumers expect market conditions for businesses to worsen in the coming six months. Employment opportunities are also expected to decline.

Also Read | From superpower to defaulter: Why America will soon run out of money


Economists believe pessimism will take pressure off the US Federal Reserve to raise interest rates further next week. This is the tenth consecutive rate hike to bring inflation under control.

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