Today’s Consumer Confidence Report

The Michigan Consumer Confidence reading rose again this month. Actually, I think it might be more accurate to say that the level of consumer self-hatred eased a bit in June.
It wasn’t a big increase, going from 68.7 to 69.0. The Street was looking for 69.5. We’re at the highest level since Lehman Brothers went kablooey.
What really jumps out at me is that consumer’s view of the future took a big plunge this month. For May, the reading for the 12-month outlook was 75. This month is was just 61. Youch! Inflation expectations rose to 3.1% from 2.8% in May.

Posted by on June 12th, 2009 at 11:13 am


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