Record 41% of US consumers expect finances to worsen over next year

A record 41% of US consumers expect their financial situation to worsen over the next 12 months, more than tripling since Q2 2024. That exceeds the 23% peak during the 2008 financial crisis and is higher than in the 1970s and 1980s when CPI inflation was above 10%. Separately, 31% expect their finances to be worse in five years, double the 1980s proportion. The data suggests consumers feel as though the economy is in a recession.