UMich Consumer Confidence Tumbles To Lowest Since Before Election As ‘Hope’ Disappears
by Tyler Durden
ZeroHedge.com
Jul 14, 2017
Following the biggest 2-week plunge in Bloomberg’s index of economic comfort in 6 years, UMich reports a big disappointment in the preliminary print for June. At 93.1 (below the 95.0 expectation), this is the weakest print since Oct 2016 – before the election.
The drop was driven by a plunge in ‘hope’ as expectations dropped the most since Oct 2013.
UMich notes that the weakness in the Expectations Index in early July was concentrated among Republicans (falling to 108.9 from June’s 116.0 and February’s 120.1); Democrats continue to hold much less favorable expectations, although the Expectations Index among Democrats has markedly improved (to 63.2 from June’s 62.0 in June and 55.5 in February).
While UMich doesn’t release their demographic data, Bloomberg’s comfort index gives an idea of the partsan divide in confidence…
The Rest…HERE
