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Consumer Confidence Tumbles Again On Plunging Expectations
US consumer confidence slipped in September, according to this month's update on the Conference Board gauge.
At 103, the headline printed below estimates. Consensus wanted 105.5.
It was the second consecutive monthly decline. Recall that the prior month's drop, a near eight-point plunge as initially reported, was the largest in years.
August's headline was revised higher on Tuesday, but not by enough to change the narrative. The gauge has now declined more than five points for two months run
Consumers buckling while the housing market is on a freeze, I doubt higher for longer with last much longer as the narrative driving markets, are we a government shutdown away from a pivot? History could rhyme again…
More or less my take. The Fed may jaw jaw hard but I do believe they’ll relent once the data is clear.
Anecdotally, in my networks at least, while the job market isn’t dead, its definitely softening in more than a few verticals. Gotta respect the lag.