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While U.S. business activity is picking up, growing fears over tariffs and government spending cuts are continuing to weigh on consumer sentiments, Reuters reports.
That’s according to a survey from S&P Global that was released on Monday. The report also shows that the measure of prices paid by businesses for inputs are surging to the highest they’ve been in two years, with reported increases for both manufacturing and services industries. At the same time, companies are showing signs of slowing hiring.
“Business confidence in the outlook has also darkened … largely caused by growing worries over negative impacts from recent policy initiatives from the new administration,” says Chris Williamson, chief business economist at S&P Global Market Intelligence. “Most widely cited were concerns about the impact of federal spending cuts and tariffs.”
