FYI: Today’s report on Consumer Confidence for the month of June came in significantly better than expectations. While economists were expecting the headline reading to show just a modest increase to 93.5 from last month’s reading of 92.4, the actual reading came in at 98. That is the highest reading since October, and the best report relative to expectations since September. One caveat to keep in mind here, though, is that this data is pre-Brexit. The chart below shows the headline Consumer Confidence index dating back to 2009. At the current level of 98, the headline index is back above its long-term historical average, but still six points below the cycle high of 103.8 from January 2015.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/big-beat-in-consumer-confidence/
