Consumer confidence PLUNGES as consumers wake up to the high cost of #Trump's economic mismanagement

[riversedge]

Consumer confidence PLUNGES as consumers wake up to the high cost of @realDonaldTrump
's economic mismanagement #TrumpTariffs #TrumpSlump #TrumpRecession

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U.S. trade war with China is torpedoing consumer confidence


https://www.cbsnews.com/news/consumer-confidence-index-august-2019-consumer-confidence-drops-to-lowest-point-since-january/

By Aimee Picchi August 16, 2019 / 2:48 PM / MoneyWatch

A closely watched index of consumer confidence dropped last month to its lowest level since January, with a third of respondents citing the latest proposed round of U.S. tariffs on China as a concern.
Consumer spending accounts for roughly 70% of economic activity in the U.S., so confidence indexes are watched closely by investors to assess whether shoppers might pull back.
The Fed's decision last month to cut interest rates for the first time since 2008 also sent a signal to consumers that they might need to pull back on spending because of a possible recession.

Americans have proved hardy despite deteriorating trade relations between the U.S. and China, continuing to spend freely even as the prospects for a deal fade. But a key gauge of how consumers are feeling suggest they're finally starting to get nervous.

Consumer confidence last month dipped to its lowest level since January, according to the University of Michigan's sentiment index, which investors watch closely as a signal of where the economy is headed. The reason: Respondents to the survey fear that U.S. tariffs set to take effect later this year could mean higher costs on a range of products, and perhaps push the economy toward a recession. ...........................................








Economic Concerns Send U.S. Consumer Mood to Seven-Month Low
By Ryan Haar
August 16, 2019, 9:00 AM CDT Updated on August 16, 2019, 10:09 AM CDT

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U.S. consumer sentiment plummeted to a seven-month low in August on growing concerns about the economy even as the labor market shows few signs of weakening from robust levels.
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https://www.bloomberg.com/news/articles/2019-08-16/u-s-consumer-sentiment-drops-to-seven-month-low-on-trade-fears

[awesomerwb1]

1. Just a couple days ago

they had some big economist talking about how talk of a recession is premature on NPR because consumer confidence is high, people are shopping like crazy etc etc.

[smirkymonkey]

2. K&R

[Demovictory9]

3. yikes