US Consumer Confidence Slides In July As Hope Plunges

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by Tyler Durden
Tuesday, Jul 28, 2020 - 10:06 AM

While 'hope' had rebounded, headline consumer confidence data from The Conference Board was expected to slide back lower in July, and it did with a notable disappointment.

Headline consumer confidence fell from 98.3 to 92.6 (well below the 95.0 expectations)

  • Present situation confidence rose to 94.2 vs. 86.7 last month.

  • Consumer confidence expectations fell to 91.5 vs. 106.1 last month.

Not a "V"...

Source: Bloomberg

Buying expectations fell for Autos and Appliances but rose modestly for Homes as only 31% of Americans surveyed see business getting better within six months.

If only record high stocks sparked confidence in the future.