WHAT THE DATA SAY: 59% expect tariffs to raise prices; 61% already see higher grocery bills

By: Ray Day

CONTACT:

Ray Day
ray.day@stagwellglobal.com 

We wanted to share our latest consumer and business insights, based on research from Stagwell. Among the highlights of our weekly consumer sentiment tracking:

TARIFF WORRIES:

Most American consumers are worried about the impact of President Trump’s tariffs, according to our Harris Poll research with Bloomberg News.

• 59% expect Trump’s tariffs to lead to higher prices.
• 44% say tariffs are likely to be bad for the U.S. economy – compared to 31% who say they would be a boost.
• 61% say they already have noticed an increase in grocery prices in the last month.
• 59% believe tariffs will raise the cost of everyday goods further.
• Only 31% say the U.S. economy is working.
• Being able to comfortably afford monthly expenses (40%) is more important to Americans than a strong job market (26%), producing more of what we buy in the U.S. (13%), growth in innovation and new industries (11%) and a rising stock market and strong corporate performance (10%).

 ECONOMIC PESSIMISM:

Most Americans believe the economy is getting worse rather than improving or staying the same, based to our Harris Poll research with The Guardian.

• 51% of Americans believe the U.S. economy is worsening.
• 20% say the economy is improving.
• More Republicans believe the U.S. economy is improving compared to the past (39% today versus 8% last May).
• More Democrats think it’s worsening today (69% today versus 36% last May).
• 47% of Americans believe the U.S. is currently in a recession (53% of Democrats, 46% of Independents and 43% of Republicans).
• Democrats (69%) and Independents (66%) believe the economy is worse than the media describe it.
• Republicans think the economy is better than media reports (56%).

U.S. EXODUS?:

Rising rent, healthcare and education costs are causing more Americans to consider moving overseas, according to our Harris Poll research with Fast Company.

• 42% of Americans have considered or plan to move abroad to improve their happiness.
• 19% of young people say they are seriously considering an imminent move.
• 52% believe they would have a higher quality of life living abroad.
• Lower cost of living (49%) is the top reason for considering a move, followed by dissatisfaction with the current political leadership (48%).
• The top five countries Americans would consider moving to are Canada, the UK, Australia, France and Italy.

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