Republicans · Donald Trump · Axios
Why it matters: Usually, the president's party is upbeat about the economy
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Since February, Republican consumer sentiment has plunged 15.1 index points, from 97.1 to 82, according to the latest University of Michigan Surveys of Consumers data.
Key facts
- Since February, Republican consumer sentiment has plunged 15.1 index points, from 97.1 to 82, according to the latest University of Michigan Surveys of Consumers data
- The Michigan survey tracks with other data on how Republicans feel about the economy under Trump, including a July Pew Research poll
- The hard data of consumer spending and retail sales have, for months, consistently reinforced that the American consumer remains resilient thanks to the President's proven economic agenda of tax
- Usually, the president's party is upbeat about the economy, while the party out of power is far more downcast
Summary
Republicans' confidence in the economy has plummeted over the last six months at a pace unseen since Covid, reminiscent of the declines during the global financial crisis nearly two decades ago. Usually, the president's party is upbeat about the economy, while the party out of power is far more downcast. It's another in a long list of ominous indicators for President Trump heading into the final two months before Election Day. The 82 reading is lower than at any point during either of Trump's presidencies, with one exception: December 2020, after he had lost reelection but before he left office.