Tue, 11/24/2020 – 10:05
Headline consumer confidence slipped to 96.1 from 100.9 (well below the 98.0 expectation) as expectations tumbled from 98.2 to 89.5 and the present situation dropped modestly from an upwardly revised 106.2 to 105.9.
If stock markets are forward-looking then this should be worrisome…
Interestingly, despite the drop in confidence, buying expectations rose for homes, cars, and major appliances, and expectations for rising incomes also rose modestly.
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Author: Tyler Durden