Conference Board Confidence Inches Higher In July, Hope Slips
After June’s unexpected rise in consumer confidence, analysts expected The Conference Board’s survey data to paint a less optimistic picture in July, but they were wrong as the headline print unexpectedly rose to 129.1 (from 128.9 and against expectations of a drop to 123.9), within a point of pre-COVID confidence levels.
Given the upward revisions for June, the shifts in July were actually marginal at best, with Present Situation rising very modestly from 159.6 to 160.3 and Expectations falling a smidge from 108.5 to 108.4.
Source: Bloomberg
That is the sixth straight monthly rise in confidence.
Inflation expectations dropped very modestly also from 6.7% to 6.6%…
Source: Bloomberg
Finally, we note that The Conference Board’s jobs data suggests the situation for jobseekers has almost never been better…
Source: Bloomberg
So why do we need continued record handouts?
Tyler Durden
Tue, 07/27/2021 – 10:09
Zero Hedge’s mission is to widen the scope of financial, economic and political information available to the professional investing public, to skeptically examine and, where necessary, attack the flaccid institution that financial journalism has become, to liberate oppressed knowledge, to provide analysis uninhibited by political constraint and to facilitate information’s unending quest for freedom. Visit https://www.zerohedge.com