The University of Michigan will at 10 a.m. ET release its final reading on consumer confidence during February.
The spike in confidence has been one of the biggest economic stories since President Donald Trump won the election. Economists forecast that confidence improved again February; the sentiment index is expected at 96, up from a preliminary reading of 95.7, which marked the first dip since the election.
Other surveys of consumer and business confidence have shown that Trump’s promises of tax reform and deregulation resonated strongly with many Americans. However, what UMich’s survey also exposed was a vast partisan divide. Democrats’ expectations for the economy fell to a historic low in the most recent survey, while Republicans’ expectations jumped towards a historic high.
They survey’s economists have cautioned that confidence could ease in the month’s ahead, as consumers may be experiencing the honeymoon phase of Trump’s presidency. They would need to see concrete results out of Washington and improvement in their personal finances to remain this optimistic about the future.