U.S. Consumer Confidence Index

The U.S. consumer confidence index rose to 102 in May, defying expectations of a decrease. The survey indicates positive sentiment about current economic conditions and future expectations. Despite growth in the economy, inflation remains a concern. A significant number of Americans believe the country is in a recession, which experts attribute to inflation. Market reactions were mixed, with stocks opening mixed and the 10-year Treasury yield slightly down.

Consumer Confidence in May 2024

Consumer confidence surged in May, despite concerns about household finances, inflation, and a possible recession. Buying plans for autos remain low, while interest in big-ticket appliances and smartphones increased. Inflation expectations rose, along with the belief that interest rates will climb higher. Home purchasing plans are at their lowest level since August 2012, while home prices reached a record high in March.

Perception of Economic Recession in the United States

More than half of Americans think the United States is in an economic recession, despite the GDP increasing for several years. A new poll shows 56% believe this and 58% blame President Joe Biden for it, even though the U.S. is not technically in a recession.

Japan's Economy Growth in Fourth Quarter

Japan's economy grew in the fourth quarter of last year, averting a recession. Real GDP increased at an annual pace of 0.4% instead of contracting. Expectations are mixed on what the latest data might mean for Bank of Japan policy decisions.

Consumer Confidence Misrepresentation

Biden falsely claimed that consumer confidence is soaring during his State of the Union address. In reality, consumer confidence has declined, with both major gauges falling in February and signaling a potential recession.

U.S. and Britain Conduct Airstrikes in Yemen; British Treasury Chief Announces Tax Cuts

The U.S. and Britain conduct airstrikes targeting Iran-backed Houthis in Yemen following attacks in Iraq and Syria. British Treasury Chief announces tax cuts to improve Conservative Party's ratings ahead of a general election. The economy faces challenges from recession, inflation, and energy price spikes.

Impact of Prime Minister Rishi Sunak and Chancellor Jeremy Hunt on UK Economy

71% of Britons blame Prime Minister Rishi Sunak and Chancellor Jeremy Hunt for the UK falling into a recession. Despite promises to restore economic order, their high-tax agenda has failed to deliver results. Support for the Conservative Party has collapsed, with Reform UK rising in popularity.

Impact of Migration on British Taxpayers

A report reveals that British taxpayers have subsidized foreign students and economically inactive migrants with £36 billion over three years. Despite promises to reduce migration, the UK continues to see a rise in immigration, leading to a recession.

Impact of Hamas War on Israel's Economy

Israel's economy suffered one of its worst-ever slumps due to the Hamas war, with GDP shrinking by 19.4% in the final quarter of last year. The conflict led to significant disruptions in the economy, affecting private activity and causing a sharp decline in various sectors. Despite the challenges, signs of stabilization have emerged, with the central bank cutting interest rates and consumer confidence gradually improving.