Consumer Confidence Drops Back Below 50 Threshold
Source: Rebel Traders
The September consumer confidence data came in at 48.5, this is the first reading below 50 since February 2010.
The drop in the US consumer confidence index confirms the drop in consumer sentiment as reported by the University of Michigan data and also the nearly consistent low consumer readings as reported by the ABC consumer index.
People are still tightening their personal finances, keeping wallets and pocketbooks closed, and don’t have optimistic views of the future. Yet stocks are still attempting to price in everything will be just fine.
A situation often referred to as, in this case, a bear market rally.
Consumer Confidence Drops Back Below 50 Threshold is a post from: Rebel Traders – Stock Market and Economic Analysis
Read the original story at Rebel Traders
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