Consumer Confidence Lowest Since Late 2015

[Purveyor]

Source: Marketwatch

Consumers confidence fell in May to the lowest level since late 2015 as Americans turned slightly more pessimistic about overall business conditions and the job market, a survey shows.

The consumer confidence index dropped to 92.6 from a revised 94.7 in April, the nonprofit Conference Board said Tuesday. That’s the lowest level since November and well below the postrecession high of 103.8 set in early 2015.

Economists polled by MarketWatch had expected the index to increase.

Although Americans continue to be cautious about the economy almost seven years into a recovery, their spending habits show that they are somewhat more upbeat than the confidence report suggests. In April, for example, consumer spending rose at the fastest rate since 2009.

Read more: http://www.marketwatch.com/story/consumer-confidence-lowest-since-late-2015-2016-05-31

[tonyt53]

1. As consumer spending hit a 6 year high. Both are meaning less unless gauged over multiple months

[elleng]

2. ???Consumer spending scores biggest jump in 7 years

Source: USA Today

Consumers emerged from their winter hibernation with zeal in April as consumption gains hit a nearly seven-year high and provided a shot in the arm to economic growth in the second quarter.


In the first quarter, consumption growth was meager as Americans socked away their solid income gains. Some economists blamed unseasonably warm weather that curtailed heating demand and a pullback in auto sales.

But in April, households splurged across the board. Car buyers led a 2.2% surge in purchases of long-lasting durable goods. Demand for clothing, food and gasoline drove a 0.7% jump in nondurable goods spending. And services consumption rose a solid 0.4%.

With spending outpacing income growth, the savings rate fell from 5.9% to a still healthy 5.4%.


Read more: http://www.usatoday.com/story/money/business/2016/05/31/economy-consumer-spending-personal-income/85182502/

[GeorgeGist]

3. Consumer spending scores biggest jump in 7 years

http://www.democraticunderground.com/10141471476

http://www.usatoday.com/story/money/business/2016/05/31/economy-consumer-spending-personal-income/85182502/

[SkyDaddy7]

7. Consumers are spending is all that matters!!!

What they answer on a survey has more to do with what they hear on the AM radio dial & at a Trump rally!

[Kelvin Mace]

4. Why I stopped believing most economists

I always see contradicting headlines.

[Purveyor]

5. Yes and I love posting them... eom

[whatthehey]

9. Where is the contradiction?

Measuring sentiment and spending are two different things, and even while a correlation is quite plausible, sentiment would be a leading indicator, not a concurrent metric.

[truebluegreen]

6. Lowest since 6 months ago? So what?

[titaniumsalute]

8. Pretty meaningless. It doesn't take much to skew these things.