As Gallup's Consumer Confidence plunges [6], The Conference Board's Consumer Confidence explodes higher from 94.6 to 101.4 (smashing expectations of 97.4). After missing by the most in 5 years in April, higher gas prices, market instability, and growing social unrest appear to be the perfect recipe for improved consumer confidence as The Conference Board data nears the highest since 2007. The biggest driver of the headline spike is the surge in "expectations" - in other words, hope - which jumped from 86.2 to 94.6, although expectations for higher incomes finally began to drop back to reality.
June's 101.4 print is near the highest sicne 2007...
Hope had fallen to its lowest level since June 2014 in May, but June 2015's spike to 94.6 nears the highest of the cycle. From hopeless to hopeful.
Charts: Bloomberg

