Hi HODLers, Hiveans,
The Conference Board just published its Consumer Confidence Index
“Consumer confidence weakened in June, erasing almost half of May’s sharp gains,”
This weakening was across all age and income groups. The largest decline was among Republicans leaning consumers.
Main highlights
- 19.0% of consumers said business conditions were “good,” down from 21.4% in May.
- 15.3% said business conditions were “bad,” up from 13.7%.
Expectations are still quite weak and in the negative territory while the present situation index is showing some strength despite being lowered than the previous month. This is a trend we also see in the Family's Current Situation which is still quite healthy but consumers are definitely being cautious.
Overall, a solid report. Tariffs are now being implemented and I expect their impact to be fully felt next month. If inflation remains under control and jobs are still plentiful. I think we might have to admit that the impact of this trade war was "minimal".
Time will tell. Credit Card debt is still high and as I understood, collection of student debt is difficult as many people are 90days+ behind their student mortgage payment.
Sincerely,