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U.S. Consumers Sour on Outlook While Happy With Finances

Photographer: David Williams/Bloomberg
Updated on

The weakest U.S. consumer expectations since the election indicate growing concern about prospects for President Donald Trump’s agenda, though Americans’ high satisfaction with their finances should support continued spending, University of Michigan survey data showed Friday.

The survey shows a widening divide between how Americans view the current state of the economy and prospects for a potential extra boost from Congress and the White House, as lawmakers wrangle over health care and taxes. While 51 percent of all consumers reported recent improvement in their finances -- the highest share since 2000 -- Republicans are becoming less sanguine about the situation in Washington, according to the report.