Robust consumer confidence

Investment Analysis Clubs Macro Economic Trends and Risks
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Confidence Stands at Highest Level since July 2021

The Conference Board Consumer Confidence Index rose again in July to 117.0, up from 110.1 in June. The Present Situation Index — based on consumers’ assessment of current business and labor market conditions—improved to 160.0 from 155.3 last month. The Expectations Index — based on consumers’ short-term outlook for income, business, and labor market conditions—improved to 88.3 from 80.0 in June.

Importantly, Expectations climbed well above 80—the level that historically signals a recession within the next year.

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We need to watch CBRE Group the largest of the commercial property companies with ties to Wells Fargo.

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On a related note, yesterday Powell said that the Fed is no longer projecting a recession.

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That does not have to age well.

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Consumer spending climbs again as Americans show confidence in the economy
https://www.msn.com/en-us/money/markets/consumer-spending-climbs-again-as-americans-show-confidence-in-the-economy/ar-AA1etJFs
Consumer spending rose 0.5% in June in a sign of confidence in the economy as inflation eased again and the US economy continued to grow…

Households increased spending by a 1.6% annual pace in the second quarter…Outlays have risen seven months in a row.

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US consumer confidence improved for the third consecutive month, leaping to its highest level since July, while recession worries abated, according to new data released Wednesday by the Conference Board.

https://www.msn.com/en-us/news/other/us-consumers-confidence-levels-are-at-their-highest-level-since-july/ar-AA1lNyxi

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