Meanwhile, the economy returns another “unexpected” negative
I’m not sure how this is “unexpected, but it certainly isn’t good news around election time. Why? Because when consumer confidence dips, that means the likelihood of an increase in private consumption, something that would help the economy, isn’t at all high.
U.S. consumer confidence unexpectedly weakened in August to its lowest in nine months as Americans turned more pessimistic about the short-term outlook, according to a private sector report released on Tuesday.
According to the article, consumers are concerned about price increases and expecting inflation during the next 12 months. It was the lowest level since November. July was originally reported as 65.9.
“Consumers were more apprehensive about business and employment prospects, but more optimistic about their financial prospects despite rising inflation expectations,” said Lynn Franco, director of The Conference Board Consumer Research Center, in a statement.
But hey, don’t worry … be happy! Hope and change. Forward.
Yee haw …