Americans are worried about rising costs, inflation, and tariffs
Americans felt more uneasy about the economy in December as high prices and tariffs continued to pressure household budgets, leading more of them to turn to secondhand gifts this holiday season.
The Conference Board said its consumer confidence index fell 3.8 points to 89.1, marking the fifth straight monthly decline. That level is close to April’s reading, when new import tariffs first raised economic concerns. November’s figure was revised higher to 92.9.
The report showed growing stress across the economy. Consumers’ views of current conditions dropped sharply, falling 9.5 points to 116.8.
Shoppers are buying used toys, jewelry, home goods, and electronics, boosting sales at thrift stores and online consignment shops, which usually slow during the holidays. Surveys show 82% of eBay users and nearly half of National Retail Federation respondents are more likely to give pre-owned gifts this year.
People also felt less confident about the job market.
Meanwhile, according to the Commerce Department, the country’s economy grew at the fastest annual pace in two years.in Q3.