ABC Weekly Consumer Confidence has flatlined, and not only is it down to -49 from last month's reading of -47, it is at exactly the same place it was two months ago.
A refresher of what the ABC index measures:
Declining levels of consumer comfort usually accompany any fall in income and wages and precede drops in consumer spending. A low or falling ABC Consumer Comfort value is considered an early indicator of an economic downturn. As a result, investors, retailers and traders alike all watch the figure for insight into the general health of the economy.
Note: The index incorporates the most recent week's data with the results of the past three weeks, yielding a rolling four week average. Results are calculated as the difference in percent of positive and negative numbers.
And the market is enjoying this revenueless, earningless, growthless, and now consumerless recovery day after day, sending the market progressively higher.