The Conference Board released its Consumer Confidence Index yesterday, revealing a pessimistic outlook among American consumers.

The index fell by 5.4 points to just 93.0, down from 98.4 in May.

Interestingly, the Expectations Index, which is composed of consumers’ near-term outlook for income, labor market conditions, and business fell by another 4.6 points down to 69.0 – which is well below the standard threshold of 80 that is used as a benchmark for a signal that a recession is ahead.

The final component of the index, the Present Situation Index, which looks at present conditions in business and the labor market, also fell 6.4 points to 129.1 points.

What should be most concerning for the Trump Administration is that, while the retreat in confidence was observed across all age groups and income groups, it was also evident across all political affiliations, with the most significant decline among Republicans.

The gains in the consumer confidence index in May were short-lived; consumers are now more pessimistic about the future outlook.

For the sixth consecutive month, American consumers have grown increasingly concerned about the job market, indicating that their outlook for current job availability has weakened.

People believe that business conditions and employment opportunities will be worse over the next six months than they are today.

All this leads to less consumer confidence in their income levels and their ability to purchase the items that they need.

Ultimately, even Trump’s Republican base is no longer feeling like the Golden Age of America is coming.