📉 Stat of the Day: When it comes to confidence, American consumers right now are feeling more George McFly than Biff Tannen.

The Conference Board’s monthly index measuring consumer confidence in future economic conditions fell ~13% to reach 65.2, per new data published yesterday. It marks the index’s lowest reading since 2013, and well below the 80 level that economists consider a signal for an upcoming recession.

• The Conference Board says the latest fall in economic confidence can be seen across all income groups, and is mainly driven by Americans aged 55+.

Big picture: Since consumer spending is by far the biggest contributor to the US economy––comprising 65%-70% of US GDP––it’s seen as a somewhat reliable indicator of economic health. And business leaders seem to agree with the Conference Board’s pessimistic outlook: CNBC’s quarterly survey of company CFOs found a majority believe the US economy will enter a recession in the second half of 2025.

🤔 Did You Know? Michael Keaton is only on-screen for 17 minutes out of the 92-minute film Beetlejuice (1988), despite playing the titular character. He also reprised his 17-minute role in Beetlejuice 2 (2024).

📰 Worth a Read: Has the Decline of Knowledge Work Begun?