Consumer Confidence Plunges To 39.8 From 45.4 On Expectations Of A Bump; Lowest Since March 2009
So much for the US consumer confidencing [sic] his way up to buying houses and other stuff. even with 2000x leverage. According to the Conference Board, October Consumer Confidence, plunged from a downward revised 45.4 to 39.8, the lowest since March 2009. The forecast looked for an increase to 46.0. Current conditions were even more horrendous, dropping to 26.3. And with crude on its way back to $100 (thank you Dudley) and gas back to $4.00, this number is not going higher any time soon. But wait, there's more: the jobs plentiful dropped from 5.5 to 3.4, jobs hard to get also dropped from 50 to 46.1, and the cherry on top is that 1 Year inflation expectations are, well, anchored at 5.8% versus 5.7% previously.
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