President Donald J. Trump had a positive message wrapped up in a slam against Former President Obama Sunday night.
Trump tweeted: Consumer Sentiment hit its highest level in 17 years this year. Sentiment fell 11% in 2015, an Obama year, and rose 16% since the Election, #TrumpTime!
“Consumer sentiment is a statistical measurement and economic indicator of the overall health of the economy as determined by consumer opinion,” according to Investopedia.
The Wall Street Journal reports:
Consumer sentiment in September jumped to the second-highest level since 2004—behind only the reading in March of this year—according to a University of Michigan survey released Friday. The recent gain was in part due to future expectations reaching a 14-year high.
Meanwhile, sales at U.S. retail stores, websites and restaurants rose 0.1% in August from the prior month, the Commerce Department said. The soft gain came after an upward revision to July’s already strong reading. Retail spending was up 6.6% from a year earlier in August, well outpacing the rate of inflation.
“Consumers are still the engine driving the economy,” said Lara Rhame, chief U.S. economist at FS Investments. “And they’re being really bolstered by everything from a strong job market to household income gains.”
Consumer Sentiment hit its highest level in 17 years this year. Sentiment fell 11% in 2015, an Obama year, and rose 16% since the Election, #TrumpTime!
— Donald J. Trump (@realDonaldTrump) September 17, 2018