Indicators
Consumer Sentiment Among Democrats Slumps Following Presidential Debate
- Democrat sentiment falls in July to lowest since May 2023
- Sentiment among Independents and Republicans also declines
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Consumer sentiment and expectations among Democrats dropped to the lowest level in more than a year following President Joe Biden’s poor performance in June’s presidential debate.
The University of Michigan’s sentiment index among Democrats fell to 82.5 in early July, down from 90.8 in June, according to figures released Friday. A gauge of expectations among Democrats, which measures how consumers view their personal financial situations and outlook on the economy, fell to 79.6 in July from 92.6 in the prior month. That is the lowest level for each measure since May 2023.