• Prior was 57.9
• Current conditions 56.5 vs 61.5 expected
• Expectations 47.2 vs 50.8 expected — lowest since the bottom of the pandemic
• 1-year inflation 6.7% vs 4.9% prior
• 5-year inflation 4.4% vs 3.9% prior — highest since 1991

This is a flawed survey but it’s a bad result and I don’t see how it improves next month given all the tariff hikes along with rising long-end rates.

The decline in sentiment was “pervasive and unanimous across age, income, education, geographic region, and political affiliation.”

Interviews were conducted between March 25 and April 8. Notably, some of the Trump tariffs were reversed on April 9.

This article was written by Adam Button at www.forexlive.com.