UMich Confidence At 14 Year High As 'Rich' Lose Faith, 'Poor' Love Trump's Policies

UMich Sentiment slid from its earlier flash print, but at 102.0 was the highest since April 2004.

Notably, 'current conditions' hit a new record high, while hope dipped a little...

 

Most notably, as UMich's Curtin points out, all of the March gain in the Sentiment Index was among households with incomes in the bottom third (+14.1); those in the middle third were unchanged, while the Index fell among households in the top third (-5.6)

"Households with incomes in the top third cited significantly greater concerns with government economic policies than last month, especially trade policies, with net references falling from +31 to just +1, offsetting their positive reactions to tax policies"

Recent financial progress was reported by 57% of all households in March, which tied the 1998 all-time peak since the
Michigan survey first began in 1946.

Income gains were cited by 46%, the highest level since 2000, and rising home values.
were cited by 62%.

While six-in-ten consumers reported that the overall economy had recently improved, half as many anticipated additional gains in the pace of economic growth during the year ahead.