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Data: Morning Consult; Chart: Axios Visuals

Consumer sentiment among Republicans dropped significantly from Election Day to Wednesday, a new daily survey shows, falling by around five times the survey's standard deviation.

What happened: Even with a result not yet called and President Trump (falsely) claiming victory, a daily index of consumer sentiment fell by 7.6 points among Republicans while remaining constant among Democrats.

  • Morning Consult's daily Index of Consumer Sentiment (ICS) reflected the drop, which a representative for the company called "highly statistically significant."

Why it matters: "If the 2020 election marks the beginning of a period in which consumers of different political parties interpret economic developments increasingly differently, then the strength of the consumer may increasingly depend on consumers’ political views," Morning Consult economist John Leer said in a statement accompanying the survey.

Details: Confidence among Republicans fell to 106.3 from 113.9, while Democrats remained unchanged after increasing 4.6 points from Nov. 1 to Nov. 3.

  • In October, the standard deviation of the ICS among Republicans was 1.6 points.
  • Wednesday's change was 4.8 times the standard deviation.

The big picture: The post-election survey followed an analysis that found a notable downturn in economic sentiment during October, in which Americans at all income levels reported losing pay or income.

  • "[T]he jobs recovery slowed in October and points to future job losses and stubbornly high unemployment in the coming months," Leer wrote on the organization's website Thursday night.
  • "As Americans continue to lose income, consumer spending and the broader economic recovery are also likely to suffer.'

Go deeper

GOP voters choose Trump — again

Data: Ipsos/Axios survey; Chart: Axios Visuals

Republicans across the U.S. are siding with President Trump over Senate Majority Leader Mitch McConnell — big time — according to a new Axios-Ipsos poll.

The state of play: A majority of Republicans still think Trump was right to challenge his election loss, support him, don’t blame him for the Capitol mob and want him to be the Republican nominee in 2024.

Dion Rabouin, author of Markets
39 mins ago - Economy & Business

The digital dollar is now high priority for the Fed

Illustration: Aïda Amer/Axios

The U.S. is starting to get serious about a central-bank-backed digital currency, with recent comments from top officials laying out the strongest support yet.

Driving the news: On Tuesday Fed chair Jerome Powell told Congress that developing a digital dollar is a "high priority project for us," but added that there are "significant technical and policy questions."

Dan Primack, author of Pro Rata
2 hours ago - Economy & Business

Coinbase files to go public

Illustration: Eniola Odetunde/Axios

Cryptocurrency exchange Coinbase on Thursday filed to go public via a $1 billion direct listing.

Why it matters: This comes in the midst of a crypto boom, and the listing may further legitimize the industry.