Consumer sentiment in October fell just short of expectations on Friday, but the survey revealed American confidence in U.S. economic policy is at a 15-year high.
in a statement.
Within the survey, a key data point revealed growing bipartisan support for the economy’s strength.
“Confidence in the government’s economic policies rose in October to its highest level in the past fifteen years (see the chart), reflecting the strong performance of the national economy,” Curtin said. “Most of the October gain was due to an upward adjustment by Democrats, although their evaluations were still well below the much more favorable evaluations of Republicans.”
The index has slumped since March when it reached its highest level since 2004 with a reading of 101.4.
The survey considers 500 consumers’ outlook on economic prospects, accounting for sentiment on personal finances, inflation, unemployment, government policies and interest rates.