Republican Sentiment: “The Sun’ll Come Out, Tomorrow”

Republican consumer sentiment remains notably more optimistic than overall or Democratic sentiment in the latest University of Michigan survey, a pattern that has persisted with only slight erosion and stands apart from broader expectations data.

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Image Source: Pexels


From the December U.Michigan Survey of Consumers:
 

Figure 1: U.Michigan Survey of Consumers Consumer Expectations, Overall (bold black), Democratic/lean Democratic (blue), Republican/lean Republican (red). Source: U.Mich.
 

Notice that overall expectations match Democratic expectations, partly because Independents match Democrats more than Repubilcans.

The Republicans stand apart in terms of expectations, remaining quite optimistic. This is shown in Figure 2. 
 

Figure 2: U.Michigan Survey of Consumers Republican Consumer Sentiment (red, left scale), SF Fed News Sentiment (teal). Source: U.MichSF Fed.


The pattern identified in April persists, with only slightly more erosion in expectations.


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