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Americans' Outlook For The US Economy Plunges Near 2013 'Government Shutdown' Lows

Tyler Durden's picture




 

Since February, Americans have become less and less confident about the economic future of the country. As Bloomberg reports, National Economy Expectations tumbled to 42.0 - just above Sept 2014 lows and almost as weak as during the 2013 government shutdown. 2015's weakening streak is the worst consistent drop since 2011 (which unleashed moar QE) as Americans' spending attitudes tumble the most since May.

 

 

Thirty-nine percent of respondents said the U.S. economy was getting worse, up from 36 percent in September. Some 23 percent said it was improving, the smallest share in 13 months.

The report stands in contrast to the University of Michigan’s preliminary consumer sentiment index, which advanced to 92.1 in October from 87.2 a month earlier.

The decrease is seeping into Americans’ attitudes about spending. The buying-climate index, which measures if consumers think it is a good time to purchase goods and services, fell by 2.3 points to 37.2, the largest weekly decline since May.

Charts: Bloomberg

 

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Thu, 10/22/2015 - 10:07 | 6698136 Ghost of PartysOver
Ghost of PartysOver's picture

Americans are taking way to mood altering drugs.   Vicious manic depressive cycle.

Thu, 10/22/2015 - 10:32 | 6698269 LowerSlowerDela...
LowerSlowerDelaware_LSD's picture

Gubmint shuts down every Friday at 4pm until Monday at 10am.  I survive perfectly well.  What's the problem with them being shut down?  EBT cards are all replenished by 24/7 computer systems now.

Thu, 10/22/2015 - 11:17 | 6698540 Bullionaire
Bullionaire's picture

I dunno who they poll to get these results. Everyone I know thinks "Everything Is Awesome!"

Thu, 10/22/2015 - 10:06 | 6698160 venturen
venturen's picture

well lets confiscate the criminal banks which caused this depression. They have paid outragous bonuses every year...while being rescued! 

Thu, 10/22/2015 - 10:10 | 6698167 yogibear
yogibear's picture

No worry, the Federal Reserve is stuck in QE mode. Just like Europe and Japan.

Round-robin QE.

And people living on the government tit are stuck consuming 

Have to know your priorities in life.

Sneaker Fans Lining Up Ahead Of Opening Of Michael Jordan Store This Weekend in Chicago

http://chicago.cbslocal.com/2015/10/21/sneaker-fans-lining-up-ahead-of-o...

Thu, 10/22/2015 - 11:43 | 6698657 Chuck Walla
Chuck Walla's picture

Sneaker Fans Lining Up Ahead Of Opening Of Michael Jordan Store This Weekend in Chicago.

Hey, a lot of people of color died for those sneakers! Them gang bangers don't find money on trees ya know.

At a City Hall budget hearing Tuesday, Ald. Walter Burnett Jr. (27th) warned of gangs having turf battles over who was entitled to sell loose, untaxed cigarette on various street corners.

“You’re gonna have a gang war over loose cigarettes,” Burnett said. It’s one of those things we need to pay attention to or somebody’s gonna get hurt.”

FORWARD PEOPLE'S PARADISE!

Thu, 10/22/2015 - 10:07 | 6698168 wmbz
wmbz's picture

"The decrease is seeping into Americans’ attitudes about spending"

Americans? I think you meant "consumers" that's how the PTB refers to the citizens.

Just offer up zero down 120 days same as cash, and they'll line right up!

Throw in a pair of air jordans and they'll stab each other over it.

Thu, 10/22/2015 - 10:26 | 6698277 TalkToLind
TalkToLind's picture

Star Wars and the new iPhone can bring us out of this! Pull out your debt cards and consume some shit...now!

Thu, 10/22/2015 - 10:27 | 6698282 847328_3527
847328_3527's picture

Looks to me as if the USPS already shut down. First class mail takes more then 10 days to go from NYC to SF.

 

wtf?!

 

I'm so glad Barry is spending Billions in the ME while America crumbles.

Thu, 10/22/2015 - 11:47 | 6698684 insanelysane
insanelysane's picture

If you don't pay for one of the premium services the letter/package ends up on a truck.

Thu, 10/22/2015 - 11:46 | 6698673 insanelysane
insanelysane's picture

I have a high school senior and a high school junior.  Currently fighting with wife on college as hs senior is undecided.  

I keep telling wife, I don't mind giving the kid $100k to start their life but I do have a big problem handing the $100k over to an "institution of higher learning."

HS junior is planning to become a nurse which is ok until we get socialized medicine and then the wage will be $5/hr more than a fast food worker wage because it will be all about fairness,

Thu, 10/22/2015 - 11:48 | 6698689 Caleb Abell
Caleb Abell's picture

"American's Spending Attitudes"

 

Attitudes?

They are not spending because they are broke.

Thu, 10/22/2015 - 12:34 | 6698909 moonmac
moonmac's picture

I'm proud our factories owners are taking this latest downturn in stride. Last crash they cut our pay 10% with highly confrontational super intense sales meetings once a week. This time they know we'll tell them to take this job and shove it! I'm so ready to join the permanent paid vacation classes. Nature, pot, 3 squares and a cot is all I need to be happy. Our Socialist Gubbermint will supply that and more...

Thu, 10/22/2015 - 12:48 | 6698976 Kreditanstalt
Kreditanstalt's picture

Hmmm...logically, a "government shutdown" should INCREASE private sector confidence, shouldn't it?

Unless one is worried about those government checks...

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