Consumer Confidence Slips Again

Consumer Confidence slipped by 10% month over month overall and missed economists' expectations by a similar margin. Even more appalling is the fact that expectations on future conditions dropped by 6 points or approximately 8%. This means that not only are consumers less confident about the current environment, but they are also equally as concerned about the coming months.

The chart below shows the distance between the survey and the actual number. Note that generally, the survey estimates has been HIGH since 2007.

Source: Economy.com

Comments

[Ted Hurlbut:]

Let's look at this over a longer period than one month. One data point does not make a trend. Consumer confidence had been improving for the last few months prior to this report. It's going to take several more months before we can put this report in perspective.

Ted Hurlbut
hurlbutassociates.com

Jul 01 01:12 PM