Diamond News Archives

But there may be more than meets the eye among those whose incomes rank in the top third of households. While the majority of these respondents expressed concern over the tariffs, what they’re reading, hearing and seeing may be dampening their outlooks even further. As things stand, it’s as if January never happened, a month in which confidence was so high, the “news heard” among high income earners hit a 20-year high. By the beginning of July, “news heard” had slid to minus 18, the lowest in two years. The six-month, 79-point swing is so severe it rivals August 2011, when the euro crisis shook world markets, Standard & Poor’s stripped the U.S. of its AAA credit rating, and households were rattled by the debt ceiling debacle....