Consumer Sentiment Hits All-Time Low Amid Frustration Over Economic Management

Consumer sentiment in the U.S. has reached an all-time low as Americans head to the midterms. Kathryn Anne Edwards, a labour economist and policy consultant in Houston, reported that 74% of Americans feel the government is poorly managing the economy. Edwards noted that this level of dissatisfaction is lower than during the 1980s recessions or the 2008-09 financial crisis.

Edwards stated that these numbers indicate the U.S. economy is failing American households. This sharp decline in consumer confidence is unusual because recent GDP figures show the U.S. economy is not currently near a recession.