Economic Report: Consumer sentiment still fueled by Trump win — if it matters

There was the slightest of downticks in consumer sentiment in January, which still was perched near post-recession highs in the wake of the election of President-elect Donald Trump.

The University of Michigan’s consumer sentiment index fell to 98.1 from December’s 98.2, missing the MarketWatch-compiled economist forecast of 98.8.

Still, the 98.1 reading was tied for the second-highest level in 12 years.

“The post-election surge in optimism was accompanied by an unprecedented degree of both positive and negative concerns about the incoming administration spontaneously mentioned when asked about economic news,” said Richard Curtin, the chief economist for the survey.

Curtin reported an extraordinary level of partisanship — the expectations index had a gap of 42.7 points between those who favorably mentioned government policies and those who made unfavorable references.

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