President Trump claimed in a tweet he wrote that consumer sentiment has hit its highest point in 17 years. He also compared the change in the sentiment between 2015 during Obama and after the election.
“Consumer Sentiment hit its highest level in 17 years this year”
Fact check: False
According to a report on CNBC, the University of Michigan’s Consumer Sentiment Index hit 100.8 in September, the second highest level of the year and the second strongest since 2004, based on a preliminary look at consumer sentiment ( In January 2004 the consumer sentiment hit 103.8)
“Sentiment fell 11% in 2015, an Obama year, and rose 16% since the election”
Fact check: False.
The University of Michigan Consumer Confidence Index does not show an 11% drop in consumer confidence for the entire year of 2015. While the index dropped from a high of 98.1 in January 2015, the index fluctuated throughout the year, with a one month low point of 87.2 reached in September. By December, the index was at 92.6.
Additionally, the Consumer Confidence Index was at 93.8 in November of 2016. While it has gone up mostly under the Trump Administration, it has also fallen lower than 93.8 (93.4 in July 2017) and higher (101.4 in March of 2018).
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