Conference Board Consumer Confidence ‘Revised Down’ Again…

For the eighth month in the last nine, the headline Conference Board Consumer Confidence print was revised lower in June (dramatically so)…

Source: Bloomberg

That June revision from 100.4 to 97.8 then allowed the headline to ‘beat’ in July at 100.3 (which is still down from the original June print) but flat at post-COVID lows. Notably the Present Situation tumbled to its lowest since April 2021…

Source: Bloomberg

The overall trend in the labor market indicator remains weaker…

Source: Bloomberg

…and Purchase plans for homes, cars, and appliances all plunged…

Source: Bloomberg

Just remind us again how exactly ‘confidence’ can be revised lower?