Consumer confidence falls for the first time since Trump's election

pulse

February 24, 2017 2:53 PM

The spike in confidence has been one of the biggest economic fallouts of President Donald Trump's election win.

The Michigan Wolverines

Consumer confidence in the US economy fell for the first time since the election, according to the University of Michigan's bimonthly survey.

The sentiment index in February fell to 96.3 from a January reading of 98.5, which was the highest in a decade. Economists had forecast a reading of 96.

The rise in confidence, which remains above pre-election levels, has been one of the biggest economic stories since President Donald Trump won the election.

Other surveys of consumer and business confidence have shown that Trump's promises of tax reform and deregulation resonated strongly with many Americans.

However, what UMich's survey also exposed was that feelings on the economy largely mirrored political views. The post-election gain "

Curtin recently cautioned that confidence could ease in the month's ahead, since consumers may be experiencing the honeymoon phase of Trump's presidency. They would need to see concrete results out of Washington and improvement in their personal finances to remain this optimistic about the future.

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