NEW CONSUMER CONFIDENCE INDEX REPORT: Consumer confidence plunges to lowest level since Trump's election

U.S. consumer confidence has plunged to its lowest level since the month before President Trump’s election, according to a survey released Friday by the University of Michigan.

The Michigan consumer sentiment index fell to 90.7, a drop of 7.7 percentage points from December 2018 and the lowest level since October 2016.

Consumer confidence about the future of the economy also plunged to 78.3, a fall of 10 percentage points from December.
Richard Curtin, the survey’s chief economist, pinned January’s sharp decline to a slew of economic headwinds and headaches facing consumers and investors.

Michigan’s monthly confidence survey is closely watched by economists and analysts as an indicator of future consumer behavior.

Sharp declines in confidence can often preview difficulty for the U.S. economy, which depends heavily on steady consumer spending.

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Last Edited by Uncle Cleatus on 01/18/2019 11:25 PM