ABC Consumer Comfort Refuses To Play Ball With Propaganda Machine
Someone should send the UMich Confidence rolodex (which seemingly consists exclusively of Goldman executive committee members whose "in the moneyness" on Goldman calls translates into confidence of being able to buy a 14th Aston Martin DB - on a one to one basis with the market) over to the ABC Consumer Comfort people, as the two firms seem to never be able to spin the same "the consumer is violently recovering compliments of the $9 trillion in budget deficits" story. After hitting -45 recently, the index dropped yet again, hitting -48 today, a level the index has flatlined to ever since early June.
From the definition:
levels of consumer comfort usually accompany any fall in income and
wages and precede drops in consumer spending. A low or
falling ABC Consumer Comfort value is considered an early indicator of
an economic downturn. As a result, investors, retailers and traders
alike all watch the figure for insight into the general health of the