Consumer spending currently makes up over two-thirds of GDP. A happy confident consumer means good things to US economy in the form of growth/consumption.
Consumer Confidence Wanes
We watch the economic numbers closely, maybe too close at times.
While not sure why, the latest readings from the Conference Board (7/28/15) were very weak.
And future expectations/hope on the Economy were weak too!
Wait a minute, gas is cheap, the weather is good for the most part across the country, employment is up, interest rates are low, banks are lending, home prices are rising … Did they get an extra amount of grumpy callers on this survey? We think it may be possible!
Fortunately there is a very similar reading, called the Michigan Consumer Sentiment, due out Friday …
Just in case it was not a one time incident, we are watching closely !
Have a Great Wednesday !
John A. Kvale CFA, CFP
PS If this is from the latest MINOR market pull back — well … let’s hope not!
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