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Consumer confidence drops as election boost fades
Source: Axios
9 hours ago
American consumers are not feeling the holiday cheer: concerns about what's ahead for the economy shot up as tariffs loom, according to a barometer of consumer confidence released on Monday.
Why it matters: The post-election bump in consumer confidence in November now looks like a blip, at least by one measure.
.Long-running economic pessimism lives on despite solid economic conditions — a sign the next administration might see consumer moods at odds with economic indicators
What they're saying: "Compared to last month, consumers in December were substantially less optimistic about future business conditions and incomes," says Dana Peterson, chief economist at the Conference Board, the group that has measured consumer confidence for decades.
By the numbers: The Conference Board's consumer confidence index fell by 8.1 points this month, reversing the prior two months' gains and remaining at the somewhat depressed level that has prevailed in the past two years.
December's drop was overwhelmingly a result of more pessimism about income, business and labor market prospects in the months ahead. A sub-index that measures consumer expectations fell almost 13 points last month alone, "just above the threshold of 80 that usually signals a recession ahead," the Conference Board said in a release.
Read more: https://www.axios.com/2024/12/23/consumer-confidence-trump-economy
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https://www.conference-board.org/topics/consumer-confidence
^-- Notice in the above that consumer confidence was higher in 2018 and 2019 (both pre-pandemic Trump years), than anytime afterwards except for a short blip around June 2021.
I believe this explains why so many idiots told pollsters pre-election that things were better "4 years ago" than now -- they were remembering the pre-pandemic years, not literally 4 years previous which was deep in the 2020 Covid max year, e.g. "4 years ago" from an October 2024 poll was October 2020, which was a very bad time economically (as reflected in the consumer confidence index in 2020).
Oops, I meant to reply to thread/OP, sorry.
^-- Notice in the above that consumer confidence was higher in 2018 and 2019 (both pre-pandemic Trump years), than anytime afterwards except for a short blip around June 2021.
I believe this explains why so many idiots told pollsters pre-election that things were better "4 years ago" than now -- they were remembering the pre-pandemic years, not literally 4 years previous which was deep in the 2020 Covid max year, e.g. "4 years ago" from an October 2024 poll was October 2020, which was a very bad time economically (as reflected in the consumer confidence index in 2020).
Oops, I meant to reply to thread/OP, sorry.
