Preliminary UoM confidence for July was 72, 1.5 pts below estimates, down from 73.2 in June and is now at a 7 month low. The components were mixed as Current Conditions rose 1.7 pts to 83.2 but the Outlook fell 3 pts to 64.8. A positive within the report was the one yr inflation expectations figure which fell to 2.8% from 3.1% and to the slowest since Oct ’10 as gasoline prices are .20 on avg below where they were at the beginning of June. Bottom line, although soft, the market didn’t care as they shouldn’t as confidence is just a snapshot and says nothing about future consumer behavior.
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.