Analysts at BNP Paribas explained that although US household confidence declined, there is no need for alarm since the survey was conducted in the midst of fierce financial market turbulence.
Key Quotes:
Employment, consumption and the housing market are
still looking upbeat, suggesting that the downturn in
morale is only a passing phenomenon.
The news string is also getting better from the
manufacturing sector. New orders for durable goods strongly rebounded while inventories are lean, both suggesting a manufacturing recovery might be underway.
All this suggest the US domestic demand will be a solid engine for 2016 growth. This is fortunate as the global slowdown and the strength of the dollar will make the international trade a net and possibly powerful brake.”
(Market News Provided by FXstreet)