Consumers See Recession Around Corner: Conference Board

The video discusses the weakening economic data and its impact on consumer confidence. It highlights the pressures from rising prices and interest rates, making it difficult for consumers to finance purchases. The expectation levels indicate a potential recession, with forecasts predicting a brief recession in the near future. Despite these challenges, current consumer conditions remain stable due to wage increases and savings, although the expectations gauge remains a concern.

What is the expected economic outlook for the US economy as mentioned in the text?

What role do present situation numbers play in consumer confidence according to the discussion?