Consumer sentiment improved slightly in the 2nd half of the
month, shrinking the small overall decline for April. The final April figure
was nearly identical to its 2018 average (98.9)-which was higher than any other
yearly average since 107.6 was recorded in 2000 (which was, in turn, the
highest yearly average in more than a half century).
The spontaneous comments
about the tax reform legislation had a positive balance of opinion, but the
trade tariffs generated a negative balance of opinion. Aside from the
offsetting impact of Trump’s tax and tariff policies, the best simple summary
of the current state of consumer confidence is that the economy is "as
good as it gets."
While consumers do not anticipate an economic downturn
anytime soon, the long expansion has made consumers (and economists) somewhat
apprehensive about future trends.
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