Widget Image
Follow PPD Social Media
Connect With PPD
Friday, September 20, 2019
HomeNewsEconomyConsumer Sentiment Holds ‘High Plateau Following Trump Election’

Consumer Sentiment Holds ‘High Plateau Following Trump Election’

A woman pulls shopping carts through the aisle of a Target store in Torrington, Connecticut November 25, 2011. (Photo: Reuters)
A woman pulls shopping carts through the aisle of a Target store in Torrington, Connecticut November 25, 2011. (Photo: Reuters)

A woman pulls shopping carts through the aisle of a Target store in Torrington, Connecticut November 25, 2011. (Photo: Reuters)

The Survey of Consumers, a closely-watched gauge of consumer sentiment, came in slightly below consensus but still high at 97.1 in May. The median consensus reading was 97.6.

“Consumer sentiment has continued to move along the high plateau established following Trump’s election,” Richard Curtain, chief economist for the Survey of Consumers said. “The final May figure was virtually unchanged from either earlier in May or the April reading. Indeed, the May figure was nearly identical with the December to May average of 97.3.”

However, hyper-partisanship is still weighing down economic potential.

“Despite the expected bounce back in spending in the current quarter, personal consumption is expected to advance by 2.3% in 2017,” Curtain said, adding “although this is based on averages across the political divide, which has never been as extreme as it is currently.

The University of Michigan’s Consumer Survey Center questions 500 households each month on their financial conditions and attitudes about the economy. Consumer sentiment is directly related to the strength of consumer spending. The data indicate real consumer spending will advance by 2.7% in 2017, though the forecast is for it to be uneven.

Final Consumer Sentiment Results: May 2017

May Apr May M-M Y-Y
2017 2017 2016 Change Change
Index of Consumer Sentiment 97.1 97.0 94.7 +0.1% +2.5%
Current Economic Conditions 111.7 112.7 109.9 -0.9% +1.6%
Index of Consumer Expectations 87.7 87.0 84.9 +0.8% +3.3%
Next data release: Friday, June 16, 2017 for Preliminary June data at 10am ET
Written by
Staff Writing Group

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

No comments

leave a comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.