'Danger for Trump': New economic survey another 'concerning' sign for president

A new economic survey spells out a dire threat to President Donald Trump and to the country as a whole, reported Politico on Friday.

The consumer expectations index, compiled by the University of Michigan, "has dropped by 32 percent since January, the sharpest three-month decline since the U.S. was rocked by a recession in 1990," reported Sam Sutton. This survey reveals that “consumers perceived risks to multiple aspects of the economy, in large part due to ongoing uncertainty around trade policy and the potential for a resurgence of inflation looming ahead,” per the survey team leader Joanne Hsu.

“Even more concerning for the path of the economy, consumers anticipated weaker income growth for themselves in the year ahead," Hsu added.

Not only does this indicate the public's views on economic conditions are bad, but it potentially reveals changes in economic behavior that could drive a contraction.

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"The danger for Trump is if consumers’ declining faith in the economy causes them to slow their spending in the coming months. The drop in expectations worsened regardless of the age, education, income and political affiliation of those surveyed, Hsu said," the report continued.

Inflation fears, which helped propel Trump into office in the first place, are also a danger sign in the survey.

"Consumers now expect prices to climb by 6.5 percent over the next year. It’s the largest projected spike in prices recorded by the University of Michigan since 1981, when the U.S. faced the dual threat of a recession and double-digit inflation."

Trump entered office with approval ratings that were tepid but higher than he enjoyed at the start of his first term, but that goodwill has quickly worn off in recent surveys. His numbers on the economy, as well as immigration, have both plunged and are underwater after long being some of his strongest issues.