People across the country are pulling back on spending in most areas for a variety of reasons — ranging from cold weather, inflation, concerns over tariffs, jobs and more. Tuesday’s monthly Consumer Confidence Index dropped to its lowest level since June 2024, with the biggest drop in confidence since August 2021.

“Consumers became pessimistic about future business conditions and less optimistic about future income,” Stephanie Guichard, the board’s senior economist for global indicators, said in a news release.

At the local level, the sentiment appears to mirror what’s going on nationally.

In this week’s Monday Message from the Lewiston-Auburn Metro Chamber of Commerce, CEO and President Shanna Cox wrote about a listening session she attended last week held by the Lisbon Economic Development office.

“What I heard that morning mirrors the conversations I am having with business owners across the county, retail is softer than normal (despite the seasonally predictable dip of January and February) and buyers from luxury goods to necessities are hesitant to spend.”

While the conversations might be anecdotal, Cox said she heard the comments “across the board,” from hospitality to retail and even luxury items — a category not usually affected by fluctuations of the stock market.

The threat of tariffs against Canada has translated into U.S. product boycotts in Canada and has many Canadians reconsidering trips across the border this year. “We’re not seeing what we have (seen) in bookings to the U.S.,” Cox said.

This story was originally published as part of “Lisbon Street News named top lottery sales outlet in Maine” The Buzz offers quick hits about trending area business happenings. Have a Buzzable tip? Contact business writer Christopher Wheelock at 689-2817 or cwheelock@sunjournal.com