US Consumer Confidence Slides In July As Hope Plunges Tyler Durden Tue, 07/28/2020 - 10:06
While 'hope' had rebounded, headline consumer confidence data from The Conference Board was expected to slide back lower in July, and it did with a notable disappointment.
Headline consumer confidence fell from 98.3 to 92.6 (well below the 95.0 expectations)
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Present situation confidence rose to 94.2 vs. 86.7 last month.
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Consumer confidence expectations fell to 91.5 vs. 106.1 last month.
Not a "V"...
Source: Bloomberg
Buying expectations fell for Autos and Appliances but rose modestly for Homes as only 31% of Americans surveyed see business getting better within six months.
If only record high stocks sparked confidence in the future....