Consumer confidence in the U.S. has declined by 10.5%, according to a University of Michigan poll. This could negatively impact economic growth, as noted by economists, including Bill Adams from Comerica Bank, who warned this decrease may lead to reduced consumer spending.
A recent poll conducted by the University of Michigan revealed a significant drop in U.S. consumer confidence, registering a decrease of 10.5% over the last month. This reduction in confidence raises concerns about the potential impact on economic growth. Bill Adams, the chief economist at Comerica Bank, cautioned, “the waning confidence could crush economic growth.” This decline in consumer sentiment may lead to reduced spending, further exacerbating economic challenges.
In summary, the decline in consumer confidence, as highlighted by the University of Michigan poll, poses potential risks to the U.S. economy. Experts emphasize that lower consumer spending could lead to detrimental effects on economic growth, signifying the importance of addressing these sentiment changes to foster economic stability.
Original Source: www.goshennews.com
