Two Charts Suggest “Vibes” Are a Part of Economic Perception

The numbers: We’re just one week out from the election and consumer sentiment on the economy has already flipped among Democrats and Republicans, per new Morning Consult polling. (NYT)

• Since Donald Trump’s presidential victory, consumer sentiment among Republicans rose nearly 30%, reaching its highest level since Trump left office in 2020.

• Meanwhile, Dems’ consumer sentiment dropped 13%, marking its lowest level since early 2023.

Context: Historically, this has been a pretty common phenomenon (with the exception of the Clinton years), as Democrats and Republicans have felt more positive about the economy when someone from their party sits in the Oval Office.

Bubba’s Two Cents

This election cycle, Democrats were extremely frustrated by the fact that many traditional indicators suggested the economy was in good shape during the Biden years (low unemployment and a booming stock market, for instance). They might take the partisan gap on the economy as a sign voters’ perceptions were partially motivated by vibes or culture.