FYI: As noted earlier, Consumer Confidence handily exceeded expectations in July. Digging a little deeper into the details, however, we found some interesting trends in confidence levels based on income levels and age. Starting with income, every income level has seen a boost in confidence since the election last November, but while sentiment is off its peak for consumers with higher and lower incomes, those with incomes in the middle ($35-$50K) saw their level of confidence rise to a new cycle high of 123.3 in July. That was the best reading since June 2001. Trump campaigned in support of the forgotten man, or those Americans right in the middle who seemingly receive little in the way of benefits but are still scrambling to get by, and based on July’s data, they don’t feel as forgotten.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/81451/
