US Consumer Confidence Slides In July As Hope Plunges

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)

• Present situation confidence rose to 94.2 vs. 86.7 last month.

• 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.