Trump driving economy into the shitter: WalletHub

Trump Always Chickens Out (TACO), gold's at $3,300 and WalletHub noticed.

Detailed Findings

Year-over-year, consumers felt less confident about their financial outlook in May 2025, with the value of the overall index registered being 27% lower than in May 2024. While this is the sharpest yearly decrease in consumer confidence recorded since December 2020, it’s worth noting that the magnitude of the decline is due partly to May 2024 having been the most optimistic month for consumers' financial outlook.

Decreasing financial optimism: In May 2025, consumers’ optimism about their finances recorded an increase (+4.2%) from the previous month. However, the level of optimism decreased by almost 10% over the past year.

Increasing stress: Consumers’ stress levels regarding money are higher (+1.8%) in May 2025 compared to the same period last year.

Decrease in optimism: In May 2025, consumers’ optimism about whether their finances will improve in the next six months is lower (-13.8%) than it was last year. This represents the most significant drop in financial outlook sentiment since December 2020.

Less new employment opportunities: The share of consumers who feel new employment opportunities are “abundant” is lower (-9.9%) in May 2025 compared to last year.

Weaker sense of job security: People’s confidence in having a job in the next six months is lower (-16.1%) in May 2025 compared to last year. This marks the steepest decline in job security sentiment since December 2020.

Real estate popularity drop: Home-buying interest among consumers decreased by nearly 30% in May 2025 compared to last year, marking the largest decrease recorded since December 2020.

Decreasing interest in auto purchases: The share of consumers who expect to buy a car in the next six months is over 32% lower in May 2025 compared to last year. This is the highest drop in auto purchase interest on record since December 2020.

Large purchases are not a priority: In May 2025, consumers’ likelihood of making a large purchase in the next six months is almost 22% lower than it was last year, the sharpest drop in consumers’ interest in large purchases since December 2020.

Decrease in debt-reduction confidence: The share of consumers who expect to have less debt after the next six months is lower (-3.6%) in May 2025 compared to last year.

Credit score insecurity: The share of consumers who expect their credit score to increase in the next six months is lower (-10.2%) in May 2025 compared to last year. At the same time, this represents the steepest decline in consumer confidence regarding their credit score outlook since December 2020.

The WalletHub Economic Index decreased by 27% between May 2024 and May 2025. This means consumers are less confident about their financial outlook this month than they were at the same time last year.