Following last month's drop and missed expectations - just when a post-weather bounce was hoped for - May's 83.0 print (in line with expectations) is disappointing to those seeing all-time highs in stocks. As reminder, the US consumer decided they were most confident in March - amid the shitty weather and stumbling stock market - and now with warm weather and record highs, things are less exuberant. Looking forward, plans to buy an appliance dropped as did plans to buy a home (even as rates drop).
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As plans to buy a home plunge...
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