Americans are not feeling great about the economy.

Consumer sentiment dropped 11% from March to April, declining for the fourth straight month, according to preliminary results from the University of Michigan Surveys of Consumers.

What You Need To Know

  • Consumer sentiment dropped 11% from March to April, according to preliminary results from the University of Michigan Surveys of Consumers

  • It was the fourth consecutive month of declines

  • The decline was “pervasive and unanimous across age, income, education, geographic region and political affiliation,” Surveys of Consumers Director Joanne Hsu said in a statement accompanying the results Friday

  • Worries about unemployment are higher than they've been since 2009

The decline was “pervasive and unanimous across age, income, education, geographic region and political affiliation,” Surveys of Consumers Director Joanne Hsu said in a statement accompanying the results Friday.

“Sentiment has now lost more than 30% since December 2024 amid growing worries about trade war developments that have oscillated over the course of the year.”

The consumer sentiment survey comes the same day China announced it will match U.S. tariffs at 125%, about a week after President Donald Trump announced sweeping reciprocal tariffs that have tanked stock markets globally, although he has paused many of the tariffs for three months.

Hsu said consumers are reporting many warning signs that indicate the increased risk of recession. They expect their personal finances, incomes, inflation, business conditions and unemployment to worsen.

Expectations of an increase in unemployment in the coming year increased for the fifth straight month. The number of Americans who expect uemployment to rise is double what it was in November 2024 and is its highest since 2009, during the Great Recession.

“This lack of labor market confidence lies in sharp contrast to the past several years, when robust spending was supported primarily by strong labor markets and incomes,” Hsu said.