US consumer financial sentiment hits highest since January 2023
In May, 43.6% of Americans said they are financially worse off than a year ago, the highest since January 2023. The share expecting to be worse off in the next year also rose sharply.
A survey shows US consumers are increasingly pessimistic about their finances. In May, 43.6% of Americans reported being financially worse off than a year ago, the highest reading since January 2023 and the third consecutive monthly increase.
This streak is the longest since 2022. For context, the figure peaked at 51.3% in June 2022. Before the pandemic (2017–2019), the share never exceeded 20%.
Looking ahead, 36% of consumers expect to be financially worse off over the next year—the second-highest since October 2022 and double the 2015–2019 average. The data highlights ongoing pressure from inflation and high interest rates.
Source: The Kobeissi Letter