Following the headline decline for Conference Board Consumer Confidence in November, analysts are expecting an exuberant bounce in December as every asset class rose majestically (despite retail sales slowing).
But, despite record high stocks, the headline consumer confidence data disappointed, printing 126.5 (down from the upwardly revised 126.8) and well below the hopeful 128.5 expected.
While the Present Situation picked up modestly, the Future Outlook weakened:
- Present situation confidence rose to 170.0 vs 166.6 last month
- Consumer confidence expectations fell to 97.4 vs 100.3 last month
Combining for the 4th monthly headline drop in the last 5…
Interestingly, this is the 4th straight month of YoY declines in confidence…
And expectations for stock market gains also faded…
Isn’t the whole point of The Fed to pump enthusiasm up “by whatever means”?
It’s not working!