Confidence Down In November, (Preliminary) Sentiment (Slightly) Up In December

Image Source: Pexels
 

U.Mich on December, Gallup on November:
 

Figure 1: U.Michigan Economic Sentiment (blue), Conference Board Confidence Index (brown), Gallup Confidence (green), all demeaned and divided by standard deviation 2021M01-2025m02. Red dashed line at “Liberation Day” Source: UMichigan, Gallup, Conference Board, and author’s calculations.

Gallup’s measure has dropped considerably in November. Relative to January, all the indices have dropped about two standard deviations.

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