UMich Confidence Disappoints As Bipartisan Divide Weighs On Hope

Hope is fading among Americans…

Consumer confidence continued to slowly sink in December, with most of the decline among lower income households.
Tax reform was spontaneously mentioned by 29% of all respondents, with a nearly equal split between positive and negative impacts on economic prospects.
As usual, party affiliation was the dominant correlate of people’s assessments of the tax legislation.
The long term outlook for the economy was most affected, with three-quarters of Republicans expecting a stronger economy and three-quarters of Democrats expecting a downturn.

This post was published at Zero Hedge on Dec 22, 2017.