
43.6% of Americans say they’re financially worse off than a year ago highest since early 2023
According to the latest New York Fed survey, 43.6% of US consumers reported being financially worse off in May compared to a year earlier. That’s the highest level since January 2023 and marks the third consecutive monthly rise.
For context, this figure never exceeded 20% pre-pandemic. It peaked at 51.3% in mid-2022.
Looking ahead, 36% expect to be worse off over the next year.
The chart from the survey shows how pessimism has trended over the past decade.
What’s your take — temporary hangover from inflation and rates, or a sign of deeper issues?
Source: New York Fed Survey of Consumer Expectations
(Full data: metricshour.com)