UMich consumer sentiment continues to hover near its highest levels since 2004…
A modest drop in expectations (but rise in current conditions) sparked a small drop in the headline figure from 100.0 to 98.2
June’s small overall decline was entirely due to households with incomes in the top third of the distribution, who more frequently mentioned the negative impact of tariffs, cited by 45%, up from 30% last month.
“Most of the June slippage was concentrated in prospects for the national economy, with the unemployment rate expected to inch upward instead of drifting downward in the year ahead,” Richard Curtin, director of the University of Michigan consumer survey, said in a statement.
Medium-Term inflation expectations hovered at record lows (+2.3%).
Buying Conditions improved for Houses and Large Appliances but faded for cars…
Finally, we note that while consumer sentiment remains buoyant, sentiment among businesses seems to be collapsing…
How long can that divide last?
via ZeroHedge News https://ift.tt/2YlPxSC Tyler Durden