Consumer Confidence: New Highs
July 25, 2017
Bottom Line: The Conference Board's consumer confidence index rose sharply in July as present situations continued to new cycle highs and expectations rebounded from weakness in May and June. Still, the 3-month average for the headline figure is below the 6-month average, indicating the recent trend for overall confidence is mixed. Additionally, details were mixed as 6-month outlooks for business rose moderately, outlooks for income fell modestly and employment rose modestly.
Consumer Confidence ROSE by 3.8 points in July to 121.1, compared with market expectations for a decline to 116.5. The index is now 25.2% ABOVE its year ago level.
Present Situation Index ROSE by 3.9 points to 147.8. The index is 24.4% ABOVE its year ago level.
The Expectations Index ROSE by 3.7 points to 103.3. The index is 26.0% ABOVE its year ago level.
The labor differential, the percentage of respondents who said jobs are “hard to get” from the percentage who said jobs are “plentiful” , moved higher by 2.5 points to 16.1.
Article by Contingent Macro Advisors