As I see it, Trump country appears to have a case of the blues.
Research firm Bespoke Investment Group recently did an interesting analysis of consumer confidence broken down by income range and age.
In September, confidence among consumers, with incomes of between $35,000 and $50,000, tumbled to its lowest level since last October.
I also find the consumer confidence trends by age group interesting.
Workers under the age of 35, and those over 55, saw declines in sentiment levels.
Middle-age employees (aged 35-54) registered an increase in consumer confidence readings.
President Trump’s political base is heavily skewed toward low-income, male workers in rural parts of the US.
And I think 10 months into his first year in power, his approval rating, now hovering at about 39%, is hardly inspiring.
In my opinion, if consumers in the key demographic groups supporting Trump continue to feel more uneasy about the future, the White House is going to face serious trouble ahead.
- Xavier Brenner has covered global market, business and economic trends for Interactive Brokers Asset Management since 2013. An experienced financial journalist, Brenner offers analysis and insights on the stories that matter to the discerning investor.