Americans Haven't Been This Confident In The Current Economy Since The Peak Of The DotCom Bubble

After a mixed December (headline flat, current up, future down), analysts expected the ongoing ramp in stocks to have lifted the Conference Board consumer confidence survey in January.

Both present situation and futures expectations jumped, lifting the headline to its highest since August.

  • Consumer confidence in January rose to 131.6 vs 128.2 in prior month.

  • Present situation confidence rose to 175.3 vs 170.5 last month

  • Consumer confidence expectations rose to 102.5 vs 100.0 last month

Source: Bloomberg

The present situation reading is back at the highest level since the dotcom bubble peak...

Source: Bloomberg

The Labor Differential (Jobs Plentiful - Hard to Get) surged back near record highs...

Source: Bloomberg

Presumably this survey was undertaken before the latest downturn in stocks amid global pandemic concerns.

Finally, we wonder if - as we have seen in the past - if the spread between dis-saving and consumer confidence has once again been stretched too wide...

Source: Bloomberg

Still, as long The Fed promises to keep stock prices high, everything in the 'economy' must be awesome, right?