European Consumer Confidence Plunges; Misses By Most In 30 Months

Tyler Durden's picture

Despite record low yields on sovereign bonds, record high stock prices, and a political elite proclaiming it's all shits and giggles from here... it seems record unemployment, record suicide rates, record bad loans, and record low credit creation were finally enough to trump the 'wealth effect' exuberance that European consumer confidence has envisaged in recent months. This is the biggest drop in confidence in 18 months and the biggest miss since Aug 2011. This is a 3 sigma miss from expectations and below all 25 "economist" guesses. How's the weather in Europe?


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flacon's picture

Market is on drugs.

Winston Churchill's picture

OD'ed on FedRes juice.
Just waiting on the heart failure.

tarsubil's picture

WTF? The trend has been going up for a year? What country in Europe hasn't gotten worse over the last year?

RSloane's picture

You're reading the chart the wrong way. Compared to Dec 2012 confidence is positively surging! In 2013 overall confidence continued to grow. I would tie this latest dip to the number of Olympic  medals garnered by EU countries. Thus endeth this tutorial on how to read charts - favored by bankers everywhere.

SAT 800's picture

49F in London; Balmy for February. Not even raining in northern Germany. Everyone should be happy; except of course, for the economic depression. as you point out.

youngman's picture

My confidence drops too when I am out of beer...

flacon's picture

Only thing worse than being out of beer is a wife who bitches at you that you drink too much beer. 

Smegley Wanxalot's picture

Catch 22: She bitches about your beer consumption, which causes you to need more beer.

Nobody For President's picture

Wrong Flacon - the only thing worse is to have lost a wife that used to bitch about you drinking too much, which I did last week.

She put up with me for 44 years, and I was lucky guy.

I am now really drinking too much.

DrunkenMonkey's picture

Chin up bro, there's plenty of women who are looking for a guy with gumption.

SAT 800's picture

If you can afford to buy beer; I'm sure someone will be willing to live with you and ease your stress.

madbraz's picture

Wish Snowden had documents to show how they rig the stock market - it's quite clear for anyone looking that the whole financial system is completely rigged.

TruthHunter's picture

"Wish Snowden had documents to show how they rig the stock market"

Apparently rigged markets aren't considered a security risk to them.


However, Toothpaste bombs are!

Ness.'s picture

Who in the fuck is buying this shit market?  I must be taking crazy pills!

Winston Churchill's picture

Skynet knows what is best, just algos selling to algos.

Toolshed's picture

"Skynet knows the best way to milk it, just algos selling to algos."


DrunkenMonkey's picture

Believe it or not, some companies still make profits ..

SAT 800's picture

I covered my S&P shorts this morning at 1836; two points plus; but I just decided to get out; because of non-performance for the shorts; if it doesn't go down it might still be alive and I don't need any losses.

Smegley Wanxalot's picture

No worries: the coming hot war in eastern europe will drive up confidence.

TheRideNeverEnds's picture

Meanwhile we have had a 20 point reversal to the upside since the overnight and now the market is going straight up.  


New highs all around; should have bought the dip.

DrunkenMonkey's picture

Some people seem to have forgotten that the Fed and all 3 branches of Gov. have the market's back.

AccreditedEYE's picture

What does KKR's Henry McVey see that everyone else doesn't?

DrunkenMonkey's picture

Since you asked, the current weather / climate is very depressing and the economic climate even more so.