Consumers feel 13% less confident about their financial outlook now than they did just a year ago, with the overall dip in optimism representing the second largest year-over-year drop over the past 12 months.
The bleak forecast comes courtesy of a new WalletHub Economic Index monthly survey that evaluates economic prospects based on 10 components of consumer sentiment, including finances, purchasing plans and employment opportunities.
“The main factors that are making consumers feel less confident include increased stress about money in general and a lack of confidence regarding their finances,” WalletHub analyst Jill Gonzalez told The Center Square. “These are mostly due to high inflation and the overall difficult and unpredictable current economic conditions. Read more…
