Consumer anxiety grows over tariffs, recession, rising prices, Numerator finds
of ConsumerAffairsKey takeaways:
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72% of U.S. households worry about a coming recession; 85% concerned about tariffs hitting personal finances
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Majority across political spectrum believe tariffs will harm the economy
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83% of consumers say they plan to change shopping habits in response to rising prices
As tariff hikes ripple through the U.S. economy, a new report from Numerator, a leading market research firm, reveals growing consumer anxiety over rising costs, recession fears, and stock market volatility.
According to the April 2025 surveys, 72% of U.S. households are now very or somewhat concerned about an impending recession a sharp increase in public unease that spans political affiliations and income levels.
Consumers are increasingly concerned about the impact of tariffs, both on their own finances and the overall economy, said Dr. Leo Feler, Chief Economist at Numerator. This is not just a partisan issue.
Tariffs spark economic fears and behavior shifts
The surveys show a surge in tariff awareness, with 89% of consumers now aware of recent or proposed tariffs up significantly from 53% in December 2024. As consumers learn more about how tariffs affect prices, 85% now express concern about their financial impact.
Concerns are highest around:
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Groceries (60%)
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Household goods (42%)
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Gasoline (40%)
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Automobiles and appliances, which saw the largest jumps in concern since February
In response, a staggering 83% of shoppers plan to adjust their spending. Top strategies include:
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Using more coupons and sales (48%)
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Delaying purchases until prices stabilize (32%)
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Stocking up ahead of price hikes (31%)
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Buying fewer imported goods (32%)
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Switching to U.S.-made products (25%)
While many are rethinking spending, confidence in the economy is declining: only 33% believe the economy will be stronger in a year, while 52% expect it to worsen.
Recession fears and stock market jitters
The survey highlights a broad fear of economic downturn, with 72% fearing a recession, including 63% in regions that strongly supported President Trump. Despite Republican optimism in some areas, a majority of households across the board believe tariffs will be harmful to the economy over the next year.
In addition:
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70% of U.S. households are concerned about recent stock-market volatility
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Among Trump-supporting regions, concern remains high at 60%
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Younger and more educated respondents were more likely to view tariffs negatively
Even among households that are unsure about tariffs, confidence in their economic benefits is limited fewer than one-third believe tariffs will actually help the U.S. economy.
Consumer behavior as economic bellwether
Dr. Feler warned that declining sentiment may foreshadow a pullback in consumer spending, a key engine of the U.S. economy.
Changes in consumer sentiment are a leading indicator for changes in purchasing behaviors, he noted. If consumers remain this pessimistic, we can expect cutbacks in consumption and a potential recession later this year.
With prices rising and uncertainty growing, consumers are clearly preparing for a more difficult financial landscape, signaling a shifting economic tide that could reshape shopping and spending habits across the country.
Posted: 2025-04-15 19:17:10
