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UMich Beats But Warns A Drop Is Imminent
08-18-2017, 10:58 AM,
#1
UMich Beats But Warns A Drop Is Imminent
UMich Beats But Warns A Drop Is Imminent

<p>The University of Michigan Sentiment survey beat expectations with its preliminary August print (97.6 vs 94.0 exp) driven by a <strong>massive spike in 'hope' as currenct conditions slump to their weakest since Nov 2016</strong>.</p>
<p>How long will that 'hope' spike last?</p>
<p><a href="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2017/08/17/20170818_umich.jpg"><img src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2017/08/17/20170818_umich_0.jpg" width="600" height="318" /></a></p>
<p>&nbsp;</p>
<p>As UMich details, <strong>half of all consumers in each of the last three Michigan surveys reported that their finances had recently improved, the best reading since 2000, </strong>the report showed. Americans were also upbeat about their financial prospects in the year ahead.<strong>&nbsp;</strong></p>
<p>However, while noting that there were <strong>too few interviews were conducted following Charlottesville to assess how much it will weaken consumers' economic assessment</strong>, UMich goes on to warn...</p>
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<p><strong>The fallout is likely to reverse the improvement in economic expectations recorded across all political affiliations in early August. </strong></p>
<p>&nbsp;</p>
<p>Moreover, the Charlottesville aftermath is <strong>more likely to weaken the economic expectations of Republicans, since prospects for Trump's economic policy agenda have diminished.</strong></p>
<p>&nbsp;</p>
<p>Nonetheless, the <strong>partisan difference between the optimism of Republicans and the pessimism of Democrats is still likely to persist, </strong>with Independents remaining as the bellwether group. At this point, the data continue to indicate a gain of 2.4% in personal consumption expenditures in 2017.</p>
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