U.S. economic confidence falls to the lowest level since 2022, installment payments become a necessity for low-income groups

(1) The Gallup Economic Confidence Index further declined in May to -45, lower than April’s -38, marking the lowest point since October 2022, but still above the phase low of -58 in June 2022. (2) From the perspective of trading psychology, the consecutive weakening of the index indicates that pessimism among American households regarding inflation, energy prices, and growth prospects is accumulating, which may suppress willingness for consumer spending in the coming months and thereby drag down corporate earnings expectations. (3) Meanwhile, another Gallup survey shows that about 10% of Americans regularly use installment payments online, while another 17% use them occasionally; a total of 51% have used installment payments, while 48% have never used them. (4) The income differences are significant: among households with annual incomes below $48,000, 37% frequently or occasionally use installment payments, compared to 29% of middle-income households and 21% of high-income households. This shows that installment payment tools are becoming an important means for America's low-income groups to manage cash flow pressure.