[CREDIT: University of Michigan]

By Todd Lassa

After months of growing confidence in the economy as measured by the University of Michigan’s widely quoted Index of Consumer Expectations, consumers in May felt a bit more uneasy – 12.4% more uneasy than in April. This will cause more than a little angst among President Biden’s re-election campaign staff, though there’s still nearly half a year left before the presidential election for American consumers to turn around these numbers again.

“Consumer sentiment retreated about 13% this May following three consecutive months of very little change,” Joanne Hsu, survey of consumers director for the UMich index said in a press release Friday morning. “This 10 index-point decline is statistically significant and brings sentiment to its lowest reading in about six months.”

Consumer confidence scored a 67.4 in this month’s survey, which is down 12.7 points from April, but is still 14.2 points above May 2023. 

Meanwhile, in this weekend’s left and right columns, Ken Zino and Stephen Macaulay, respectively, (both Michiganders, by the way) discuss Biden’s economy in comparison with ex-President Trump’s economy. As Macaulay notes, recent polls show voters have a more favorable opinion of the Trump administration’s economy than they do of the Biden administration’s economy.

To be sure, the Editorial We yearns for a time when we can debate Reaganomics v. Bidenomics, but that is not the political deal we have been dealt these past four years. 

What’s your take? Whether you are a New Dealer, a Reaganomics Supply-Sider, or a devotee of Bidenomics or of MAGAnomics, we humbly seek your civil comments. Please email comments to editors@thehustings.news and let us know whether you consider yourself – generally, not just on economic issues – conservative or liberal, in the subject line.