• Sprott Money
    05/06/2016 - 06:03
    The US, in its own decline, is showing this same self-destructive tendency. The worse things get, the greater the inclination of the citizenry to say, “Carry on, everything’s fine.”

Consumer Confidence Pops On Hope As "Present Situation" Drops Most Since January

Tyler Durden's picture




 

The Richmond Fed survey surged to 14, its biggest beat since April 2010 and its highest level since January 2011. All makes perfect sense right? Just a 3.5 sigma beat of analyst expectations at 0. All sub-indices improved to multi-month highs and expectations for six months ahead also surged (even as prices paid and received collapsed).

Consumer Confidence, amid surging interest rates and near-record gas prices for this time of year (and a pending war), rose (beating expectations) after falling last month. All of the gains in confidence came from 'hope' as the expectations sub-index rose from 86.0 to 88.7 as the present situation fell from 73.7 to 70.7 - the biggest drop since January.

 

 

Remember, beware of the big 'con'.

0
Your rating: None
 

- advertisements -

Do NOT follow this link or you will be banned from the site!