Consumer sentiment declined in March as President Donald Trump’s tariffs triggered a market downturn and warnings of a potential recession, according to The Conference Board survey released on Tuesday. The decline was sharper than economists had anticipated.
Marking the fourth consecutive month of worsening consumer attitudes, the gauge dropped to its lowest level since 2021. While expectations of future income had remained steady even as overall sentiment declined in previous months, that measure fell significantly in March, The Conference Board reported.
Income concerns signal that “worries about the economy and labor market have started to spread into consumers’ assessments of their personal situations,” said Stephanie Guichard, senior economist of global indicators at The Conference Board, in a statement.
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This data comes just a week before additional US tariffs are set…