Economic Confidence Slumps To Lowest Since Trump’s Election
by Tyler Durden
ZeroHedge.com
May 9, 2017
Just as US macroeconomic data surprises collapse back to reality (but stocks hit record highs), so it appears the animal spirits of American Consumers are tumbling…
Hope lasted a few months in the ‘real’ data… but has collapse in the last month.
And as Gallup reports, Americans’ views of the economy remain positive on balance, but just barely. Gallup’s U.S. Economic Confidence Index averaged +3 for the week ending May 7. The index is down four points from two weeks ago and now sits at a nominal low for the year after trending downward from its early March peak.
Gallup’s U.S. Economic Confidence Index is the average of two components: how Americans rate current economic conditions and whether they feel the economy is improving or getting worse. And that is where the bigger problem lies as it is ‘hope’ about the future that has really tumbled…
The Rest…HERE
