This is the highest level of confidence in the "present situation" since April 2001, but just as we saw in 2000 and 2007, the divergence between current confidence (high) and hope for the future (low) is becoming extreme…
The headline Conference Board Consumer Confidence print disappointed (dropping to 122.1 from 129.5, missing expectations of 128.0).
The 'miss' was driven by a huge tumble in "Expectations" which dropped from 113.3 to 99.1 – the lowest since Nov 2016.
This is one of the widest spreads between current and future expectations in history..
via http://ift.tt/2lgurTi Tyler Durden