A whole raft of economic survey information released recently shows a leaky economy is threatening to help sink Obama’s reelection chances this fall.
On Thursday, pollster Rasmussen published results of their daily consumer confidence numbers showing the index at its lowest point at any time since the start of 2012.
“The Rasmussen Consumer Index,” writes Rasmussen, “which measures consumer confidence on a daily basis, fell another point on Thursday to the lowest level of 2012. At 78.5, confidence is down three points from a week ago, down three points from a month ago and down 11 points from three months ago. Confidence is down 19 points from the highest levels of 2012.”
Meanwhile, a survey of manufacturers released by Commerce Department shows that outside of some strength in aircraft orders, businesses have been ordering fewer durable goods.
From the Dow Jones NewsWire via NASDAQ.com:
“June's increase was led by stronger demand for civilian and defense aircraft, up 14.3% and 23.9%, respectively. Outside those typically volatile categories, new orders were much weaker. Excluding transportation, new orders fell 1.1% in June. Outside the surge in aircraft orders, the demand for big-ticket items faltered, indicating continued caution on the part of businesses," said Joel Naroff of Naroff Economic Advisors.
Manufacturing has played a key role in the recovery, though there are signs the sector is slowing as U.S. consumers remain cautious and demand from overseas fades.