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  • US consumer confidence higher than expected in June

    From breakingthenews.net

    Consumer confidence in the United States declined less than expected in June, the University of Michigan said in its final report on Friday. The Index of Consumer Sentiment fell 1.3% month on month to 68.2 but was higher than the preliminary estimate suggested and climbed 6.2% compared to the same month in 2023. "While consumers exhibited confidence that inflation will continue to moderate, many expressed concerns about the effect of high prices and weakening incomes on their personal finances. These trends offset the improvements in the short- and long-run outlook for business conditions stemming in part from ... (full story)

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Where do these people get their data from to provide these statistics? In all the conversations I have had, consumer confidence is terrible. My wife spends at least 20% more at the grocery store weekly than last year and taking the family out to dinner has increased even more.
Where is the news with chicago pmi ))?
They were probably asking those who thought Biden won the debate.
Everyone can see the chart, but only a few can actually read it.
Quoting Guest
Where do these people get their data from to provide these statistics? In all the conversations I have had, consumer confidence is terrible. My wife spends at least 20% more at the grocery store weekly than last year and taking the family out to dinner has increased even more.
The numbers would suggest your anecdote is becoming more widespread. Confidence DECLINED since last month....just not as much as consensus thought it would. If you look, these levels are low vs. historical data. Take a look at the graph from 2014-2020. I won't say things are all bad though.

You have to remember that some people questioned are invested in the stock market (and have seen a 50% increase in their 401k via the SPY ETF in 7-8 months, since last November-ish) . Some are not. Some have seen their home prices double in the past 2 years. Some have not. Some have jobs that pay 100% what they did 3 years ago, some do not. If your net worth increased by 50% and your income went up 40% over the time you had to spend 20% more at the grocery store, you, too, would be a bit more optimistic...wouldn't you? Everything is about the 'net'.
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