#USConsumerConfidence Consumer Confidence Report for December 2024
The recently published Consumer Confidence report for December 2024 will shape the trends at the start of the year. However, it’s hard to call this report positive.
The index shows further deterioration in short-term expectations for income and labor market conditions. Around 46% of those surveyed believe that tariffs will continue driving up the cost of living.
Corporate bankruptcies in the U.S. have reached their highest level in 14 years, leading to mass layoffs and an increase in unemployment. Investment levels have also dropped, impacting both regular companies and crypto projects.
Despite this, public sentiment remains optimistic, largely tied to Trump taking office. Many see him as a savior who will restore America’s greatness and give people confidence in their future.
Hope is a powerful motivator, but faith alone is not enough. In his campaign, Trump made many promises and has already started acting on them. Closing borders with Mexico and reducing benefits for immigrants, in his view, should encourage immigrants to return to their countries, freeing up jobs for Americans. This is expected to ease the employment crisis. But whether Americans will be willing to take on low-paying jobs previously held by immigrants remains uncertain.
Change is necessary, but whether it will be positive or not is something only time will tell.