Tuesday, June 28, 2011

Consumer Confidence Falls

U.S. consumer confidence fell 3.2 points (month-over-month) in June to 58.5.

Consumer confidence is at its lowest level since November 2010. The Present Situation Index declined to 37.6 from 39.3 while the Expectations Index fell to 72.4 from 76.7.

Thus, we have conflicting data again, today. Housing numbers were up fractionally, while the CCI is down.

It's a sluggish economy, as the Fed pumps money, but not at the aggressive rate of 4Q 2010. Next comes even higher price inflation, which will make stagflation the operative model to use in thinking about the economy.

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