U.S. consumer confidence lowest since November
Consumer confidence fell in June to its lowest point since November, according to the University of Michigan’s closely followed index and survey, CNNMoney reported.
According to the University of Michigan survey, Democrats are worried about what President Donald Trump is trying to do and Republicans are frustrated that he can’t get it done.
The confidence index is now at 94.5. Before the election, it was 87.2.
By January, when he was inaugurated, it had shot up to 98.5, the highest level in more than a decade.
That was largely because of hopes that Trump would cut taxes, spend big on infrastructure and shed government regulations.
Those hopes are now dimming a bit. The economy has added jobs for 80 months in a row, unemployment is lowest since 2001, and the Federal Reserve just raised interest rates—a good sign for the economy’s health. ■