Consumer Confidence Disappoints In April After March’s ‘Hope’ Crash
After ‘hope’ crashed in March, analysts expected a modest further rebound in the headline Conference Board Consumer Confidence print in April – they were wrong. The headline confidence print dropped very modestly from a revised down 107.6 to 107.3 in April as Expectations limped higher (from 76.7 to 77.2) and Present Situation worsened slightly (from 153.8 to 152.6)…
Notably, the strongest gains in confidence were among the higher income households (over $100k rose from 121.3 to 132.2) while middle-aged folks (35-54) saw the biggest drop in confidence.
The labor market actually tightened very modestly in April (with Jobs easy-to-find falling relative to hard-to-get)…
We suspect this will get significantly worse as The Fed starts hiking rates.
On the bright side, inflation expectations fell in April…
Well done Jay!
Tyler Durden Tue, 04/26/2022 – 10:14