CB Reports Consumer Confidence Higher, I‘m Not So Sure...
For me, the most surprising report of the day so far has been the Conference Board's survey of Consumer Confidence. Frankly, I was looking for a much lower report here, and instead, the report came in 4 points higher than last month.
This runs counter what we've seen over the last 3 or 4 months. During that time both the Conference Board's own report and the Michigan Survey of Consumer Sentiment have been ticking down. Leading me to believe that the consumer was starting to lose heart.
And that's perfectly understandable when you think about it. Record inflation, combined with record shortages is enough for anyone to lose spirit.
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