Credit reporting agency TransUnion said that as tariffs heightened concerns about rising prices, American consumers felt worse about their financial situation. “Of the nearly 3,000 people surveyed in May, 27% were pessimistic about the financial situation of their families over the next 12 months, up from 21% in the fourth quarter,” according to data from the European Union.” “Pessimism has risen sharply,” said Charlie Wise, head of global research and consulting at the Trans-Union, in an interview. “There is a very clear correlation between this pessimism and the uncertainty brought about by tariffs.” More than half of respondents said they had reduced discretionary spending on dining out, travel, and entertainment in the past three months, and 23% said they had increased emergency savings.

Credit reporting agency TransUnion said that as tariffs heightened concerns about rising prices, American consumers felt worse about their financial situation. “Of the nearly 3,000 people surveyed in May, 27% were pessimistic about the financial situation of their families over the next 12 months, up from 21% in the fourth quarter,” according to data from the European Union.” “Pessimism has risen sharply,” said Charlie Wise, head of global research and consulting at the Trans-Union, in an interview. “There is a very clear correlation between this pessimism and the uncertainty brought about by tariffs.” More than half of respondents said they had reduced discretionary spending on dining out, travel, and entertainment in the past three months, and 23% said they had increased emergency savings.