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Americans' Hope For The Economy Just Plunged - 'Trump Bump' Erased

Another 'soft' data survey rolls over...

Following this morning's tumble in the Philly Fed report, Bloomberg's Consumer Comfort survey shows economic expectations plunged back to their lowest since before the election...

The monthly measure of economic expectations fell to 47 in July from 52 in June.

The share of respondents who say economy getting better dropped to 28%; 32% said it was getting worse.

As Bloomberg notes, the pickup in optimism about the economy in the months after the presidential election has faded.

For the first time since November, more Americans said they thought the economy was getting worse rather than improving. However, expectations were influenced by partisanship, as 13 percent of respondents who are Democrats said the economy was strengthening compared with 48 percent of Republicans who said so.