vrijdag 28 juli 2017

UMich Consumer Confidence Tumbles To Lowest Since Before Election As Trumphoria Fades

Despite a rebound in business survey hope, a number of consumer confidence measures have been tracking lower in recent months as Trumphoria fades. July's final UMich consumer confidence data confirms this trend printing at 93.4, the lowest since Oct 2016. While current conditions rose to the highest since July 2005, the biggest driver of the overall decline was a tumble in the 'expectations' index. Although a slight improvement on the early month preliminary print, the trend remains lower...  


The partisan divide over confidence remains extreme, but the partisan gap has narrowed in recent weeks, mostly due to Republicans tempering their optimism. The recent declines among Republicans were somewhat predictable, but the continuation of extreme pessimism among Democrats is more surprising; although, a partisan pessimism is easier to maintain when personal finances are at the highest levels recorded since 2000. Overall, the data continue to indicate a gain of 2.4% in personal consumption in 2017...