Confidence was expected to continue to rise. Consumers cite inflation, politics and tariffs as factors they see influencing the economy.

The University of Michigan survey was done before Election Day. Optimism about future economic conditions is at best level in nearly four years.

September retail sales excluding vehicles and gasoline were up 0.7%. But consumers report uncertainty about the election and how it will impact the economy.

Spending jumped 15% in 2021 and more than 7% in 2022, but analysts expect “normal” growth of 2.3% to 3.3% for the season in 2024.

For the first time in five months, consumer sentiment rose in August, thanks largely to high-income people, University of Michigan data shows.

Optimism has increased, but it’s still below a 50-year average, a National Federation of Independent Business survey shows.

There’s a persistent partisan gap in consumer sentiment polling.

Average wage growth has slowed in recent months, though according to the May jobs report, it’s still ahead of inflation.

Unemployment is near record lows, GDP is growing, inflation has been trending down, wages are up. But in spite of it all, people are feeling bad.

Loans are a big cost, but they would muddle the data in the CPI. Fed rate hikes would essentially create inflation, despite their intention.