Consumer Sentiment Falls to Lowest of Trump Presidency; Republicans Dour

Weaker expectations about personal finances helped drive U.S. consumer optimism this month to the lowest level since October, University of Michigan preliminary survey data showed Friday.

The main gauge of whether people feel confident about the economy is at its lowest level since President Donald Trump was elected. The decrease in expectations was concentrated among Republicans, underscoring the frustrations voters have with policy makers in Washington and the uphill path for tax and health-care policy.

Highlights of Michigan Sentiment (July, preliminary)

Preliminary sentiment index fell to 93.1 (forecast was 95) from 95.1 in June Expectations measure dropped to 80.2, also the weakest since October, from 83.9 the prior month Current conditions gauge, which measures Americans’ perceptions of their personal finances, increased to 113.2, matching the highest since July 2005, from 112.5 in the prior month

Key Takeaways

While 51 percent of respondents, the largest share in almost 17 years, reported that

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