Republicans are souring on Donald Trump’s policies, pushing a closely watched measure of consumers’ confidence in the US economy to its second-lowest level on record.
The University of Michigan’s overall index of consumer sentiment tumbled to 50.8 in May, from 52.2 the previous month, while the expectations figure fell to 46.5 amid mounting fears that people could soon start to lose their jobs.
The poll also showed people’s expectations of inflation a year from now soared from 6.5 per cent to 7.3 per cent — its highest level since 1981 — as people bet that the Trump administration’s trade war would lead to a rise in prices.
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