Just as US macroeconomic data surprises collapse back to reality (but stocks hit record highs), so it appears the animal spirits of American Consumers are tumbling…
Hope lasted a few months in the ‘real’ data… but has collapse in the last month.
And as Gallup reports, Americans’ views of the economy remain positive on balance, but just barely. Gallup’s U. S. Economic Confidence Index averaged +3 for the week ending May 7. The index is down four points from two weeks ago and now sits at a nominal low for the year after trending downward from its early March peak.
This post was published at Zero Hedge on May 9, 2017.