Although the economy hasn't seen much change, Americans perception of it has shifted greatly.
Andrew Van Dam of The Wall Street Journal (subscription required) reports the greatest shift in views were about how the stock market would perform next year. Many consumers believe that the stock prices will rise, while income will see a sharp decrease.
"And consumers are more worried about the job situation than they were in December, despite continued payroll growth and a falling unemployment rate. At the same time, their outlook for the job market, which generally tends to be more optimistic, took a small hit despite steady hiring."
"While consumer faith in current business conditions has fallen since the Fed raised rates…the more troubling move may be that more believe business conditions are going to worsen in coming months, a shift toward pessimism that echoes consumer worries about stocks, incomes and employment."