Following June's initial largest miss in 18 months [5], UMich consumer confidence 'final' print inched higher to 82.5, modestly beating expectations - but well below April's peak. In case you were confused at whether you should be exuberant (conference board confidence at highest since 2008 [6]) or dysphoric (Gallup survey at lowest in 2014 [7]), we don't blame you. What is most worrisome about the UMich data, aside from the non-confirmation of exuberance offered by the government survey, is the tumble in the "outlook' index to 3 month lows.
Initial June print - big miss...
[8]
Final - small beat...
[9]
Charts: Bloomberg
