In response to consumer sentiment plunging for the third month in a row under Donald Trump, DNC Chair Ken Martin released the following statement:

“Under Donald Trump, consumer sentiment in April plunged to one of the worst readings in over 70 years — hitting a rate lower than anything seen during the Great Recession. Americans are ‘petrified’ and already pulling back their spending as Trump’s chaotic policies cause grocery and energy costs to reach record highs while setting retirement savings on fire. Trump is driving the economy into a ditch and refusing to take action — all so he can give handouts to his billionaire friends as hardworking Americans suffer.”  

For the third month in a row, consumer sentiment is plunging under Donald Trump — hitting levels worse than during the Great Recession — and inflation expectations are rising to historic highs. 

University of Michigan: “Consumer sentiment fell for the fourth straight month, plunging 11% from March. … 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. Consumers report multiple warning signs that raise the risk of recession: expectations for business conditions, personal finances, incomes, inflation, and labor markets all continued to deteriorate this month. …

“Year-ahead inflation expectations surged from 5.0% last month to 6.7% this month, the highest reading since 1981 and marking four consecutive months of unusually large increases of 0.5 percentage points or more. This month’s rise was seen across all three political affiliations. Long-run inflation expectations climbed from 4.1% in March to 4.4% in April, reflecting a particularly large jump among independents.” 

CNN: “April’s reading was lower than anything seen during the Great Recession.”

CNBC: “Seven in ten (73%) Americans feel stressed about their finances today … Nearly all Americans cite inflation as a top financial stressor … Three in four (74%) Americans believe the US is heading towards a recession” 

Consumers are “petrified”: Americans are cutting back on spending as grocery and energy costs hit record highs and recession fears increase. 

Heather Long, Washington Post: “Yikes. ‘Consumers have spiraled from anxious to petrified,’ says Pantheon Macroeconomics.” 

Heather Long, Washington Post: “This level of fear will start to change behaviors. Consumers will pull back on spending. We’re already seeing early signs of it with pullbacks in travel and restaurants.” 

Bureau Of Labor Statistics: March 2025: Grocery prices rose by 0.485%, the most since October 2022, to a record high. 

Bureau of Labor Statistics: The average price of electricity per KWH in the U.S. increased to $0.181 — the highest price on record. 

Patrick De Haan, @GasBuddyGuy: “Average gas prices compared to a month ago: up in nearly all states”

A majority of Americans believe the economy is on the wrong track under Trump — including Republicans. 

Joe Weisenthal, Bloomberg: “March saw a big drop in how *Republicans* feel about the state of the US economy” 

The Economist/YouGov: 54% of Americans say the country is on the wrong track, 55% disapprove of Trump’s handling of inflation  

Navigator: “A majority of Americans now say the economy is getting worse (59%), up from 37% who said the same in December 2024.”

Newsweek: “Trump’s Approval Rating On the Economy Hits New Low, Polls Show”