Trump Tweets Consumer Confidence Is at Record High, But It's Not
(Bloomberg) -- President Donald J. Trump tweeted Tuesday that consumer confidence “is at an All-Time High.” In fact, it was higher when a Clinton was in the White House.
With U.S. unemployment at the lowest since 2000 and the stock market reaching records, several widely followed measures of Americans’ sentiment are at or near the highest they’ve been since before the last recession. But they’re not all-time highs by any measure:
- The University of Michigan’s Index of Consumer Sentiment fell for a second month to a preliminary December reading of 96.8, down from October’s 13-year high of 100.7. The record was 112, in January 2000, during Bill Clinton’s second term. It was also higher under Republican George W. Bush, with a peak reading of 103.8 in January 2004 and Republican Ronald Reagan, with a peak reading of 101 in March 1984.
- The Conference Board’s Consumer Confidence Index rose to 129.5 in November. Its record high also was under Clinton in January 2000, when it reached 144.7 and the gauge remained as high as 132.6 through November 2000. The index also had higher readings under Democrat Lyndon Johnson, peaking at 142.3 in October 1968 and under Republican Richard Nixon, peaking at 137.9 in June 1969.
- The Bloomberg Consumer Comfort Index was at 52.3 last week, just below August’s 16-year high of 53.3; the record was 69, again under Clinton in January 2000. The index also had higher readings under Reagan, peaking at 54 in May 1986.
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