NORTHAMPTON, Mass. (WWLP) – Consumers’ confidence in the economy fell to its lowest level since November.
The Commerce Department says the U.S. economy fell at a 0.7 percent annual pace for the first three months of the year. The reason: severe winter weather and a widening trade deficit.
The dip in consumer confidence affected people of all ages and income levels. They were less confident both about current economy and the future.
22News asked people what they think about the economy.
Valerie Rykowski of Glastonbury, CT said, “I think a lot of people are living paycheck to paycheck. When you lose your job or you get laid off, I think it’s very hard to find another position. I think people are a little scared and are not out and doing things. They are a little more guarded.”
Economists expect growth of about 2% and a rebound in the current quarter.