While confidence in the ‘Present Situation’ drooped to its lowest since Dec 2017, ‘Expectations’ for the future remains just shy of its highest since March 2001, but was not enough to lift the headline index which disappointed.
Conference Board Consumer Confidence printed a slightly lower 126.4 (against expectations of 128.0)… Expectations dropped very modestly from 161.2 to 161.1 – holding near 2001 highs.
The very modest drop in expectations was echoed in buying appetite for Autos and Major Appliances – which tumbled…
Also of note is that the highest income Americans are losing confidence as lower income Americans are seeing confidence soar…
Finally, we note that the percentage of Americans who believe the US stock market will be higher in 12 months continued to rebound (to 42.4%) but also that the percentage of Americans who see rates higher in 12 months fall modestly to 70.5%…
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