U.S. Consumer-Sentiment Drop Shows Post-Election Bump Fading

The biggest drop in U.S. consumer sentiment since October represents a break from the greater optimism seen after the presidential election, University of Michigan survey data showed Friday.

The slide in confidence reflects concerns about President Donald Trump’s economic policies and their chances of passing through Congress. Responses since June 8, the date of former FBI Director James Comey’s congressional testimony, show even greater declines, although few respondents referred to the event when explaining their views. Even so, that trend suggests the final number for June may be lower when it’s reported in two weeks.