Consumer Confidence Collapses To 9-Month Low, Biggest Miss In Over 8 Years
Unpossible! With stocks at record highs and unemployment plunging (according to the government's data and talking heads), how is it possible that University of Michigan Consumer Confidence has collapsed to its lowest since November, missing extrapolated expectations by the most since 2006? We suspect you know the answer...
The tumble - unlike Empire Manufacturing (which saw hope soar) was driven by a crash in the economic outlook (hope) to 10 month lows.
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