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UMich Consumer Confidence Tumbles To 12-Month Lows With Biggest Miss On Record
Having fallen and missed the last two months, UMich Consumer Sentiment plunged in September's preliminary data from 91.9 to 85.7 (dramatically missing the 91.1 expectations) crashing to its lowest in a year. This is the biggest miss on record. Crucially, this is the all-important factor that The Fed's Dudley said he would be monitoring ahead of his decision on rate hikes... Hope collapsed as "expectations" tumbled from 83.4 to 76.4 - the lowest in a year as 73% of respondents cited negative economic developments seeing a weaker econmomy due to a global growth slowdown.
- *NEGATIVE ECONOMIC DEVELOPMENTS CITED BY 73% OF RESPONDENTS
- *AMERICANS SEE WEAKER ECONOMY DUE TO GLOBAL GROWTH SLOWDOWN
Not pretty...
Reality is also starting to set in for the majority who expected higher incomes in th enext year has now dropped to just 48.3% - its lowest since 2014.
Charts: Bloomberg
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Rate hike priced in. QE priced in
I think ZH articles should start being posted with a QE up, QE down, Rates up and Rates down arrow. I guess they would also need a circular arrow, which would be the current thinking at the FED.
Last month the "news" media was gushing with glee (what they call reporting) over the amazing Obama Recovery Summer Number Six due to the "fantastic" consumer confidence numbers.
The only president in history to have ZIRP every year in office.
Don't think algo baiting from ZH works anymore guys. Pretty sure HFT has filtered out your headlines and doom based phrase bolding.
Instead, you showed up.
Things that make you go ....Hmmmmm.
order66: I suspect you are a card-carry member of the Crony-Capitalist Pinko Fascist Commie Brigade? I'm confident your moniker is not of that dolt bunch. Why defend a movement that Rick would reject?
lol. what?
Will She...won't she
Is this all there is?
Paper Gold & Silver smashed. Stay physical my friends.
Like listening to static on the radio.
So, in memorial honor of 911, will Yellen say "Pull it!"
No worries...., Trump will make America strong again..... Oh shit....., I just went full retartd.
Not possible, just ask Obama!
They must have taken the data from over 40 square miles of run down polluted industrial wasteland surrounding Detroit.You can go for bus tours now and have a box lunch at a cadmium contaminated steel mill.Why not tale the consumer sentiment data from East St.Louis?
Sounds Bullish.
At some point, despite the faces people put on, perception meets reality.
Hah I read that as feces
Sometimes making no decision is worse than making the wrong decision. Certainly seems the case with the fed.
I guess "biggest miss on record" just isn't what it used to be...
http://www.zerohedge.com/news/2012-12-07/umich-confidence-plunges-bigges...
Not since Lehman
Is this the same poll? If it was than the one in the old article was not truthful, the drop around 2006 was much larger as seen in this articles image...
hmm... thinking...
You know as the "economy" "recovers", the top skimmers are there to skim off every nickel and dime in real time ad infinitum. So ... "recovery" not possible. Every step the economy takes, they'll be watching it, like in the Sting/Police song. The top skimmers have a long backlog of things they want to skim, so they are ready.
Death to the Money Changers
I suppose they just polled old people.
According to yesterday's propaganda piece.
They need to stick to polling fructose-fed, floride-saturated, Fuki radiated, Fast Food sheeples ... instead of asking real people how they feel.
HOOVER: Well, sir... we're hoping that our midterm grades will really help our average. :boone laughs mockingly ha!:
The banquet of consequences has been sitting out at room temperature since 2008 yet everyone will still have to clean their plate.
95% change of no action....why would Yellen ever want the rate to go up....The bank bonuses are good with ZERO rates. Of course a couple guillotines rolling through washington and NY might change that.
We all know what caused this fall, and it has nothing to do with the economy.
We all know this rise (from 2009) had NOTHING to do with the economy. Righ ajkreider?