Following June’s initial largest miss in 18 months, UMich consumer confidence ‘final’ print inched higher to 82.5, modestly beating expectations – but well below April’s peak. In case you were confused at whether you should be exuberant (conference board confidence at highest since 2008) or dysphoric (Gallup survey at lowest in 2014), we don’t blame you. What is most worrisome about the UMich data, aside from the non-confirmation of exuberance offered by the government survey, is the tumble in the “outlook’ index to 3 month lows.
Initial June print – big miss…
Final – small beat…
Charts: Bloomberg
via Zero Hedge http://ift.tt/Tpowep Tyler Durden