(AURN News) — In another sign of trouble for the economy, new data suggests that despite political claims of strength, many Americans are asking: Strong for whom?
The University of Michigan’s Surveys of Consumers show growing concern about the health of the U.S. economy among everyday Americans. So far in November, overall consumer sentiment has dropped 6%, while views of personal finances are down 17%.
Expectations for business conditions in the year ahead have also fallen by 11%.
“With the federal government shutdown dragging on for more than a month, consumers are now expressing worries about potential negative consequences for the economy,” the university said. “This month’s decline in sentiment was widespread — seen across age, income and political affiliation.”
Meanwhile, Americans with the largest stock holdings reported an 11% increase in sentiment — a stark contrast that highlights the widening gap in economic experiences.
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