US Consumer Confidence Explodes To Highest Since Feb 2020 But ‘Hope’ Hype Stalls
After surging in March, analysts expected The Conference Board consumer confidence headline print to surge even higher in April and it did… massively. Against expectations of a rise from 109.7 to 113.0, the Conf Board confidence exploded to 121.7.
The driver of the surge in confidence is a blowout in “current conditions”, surging from 110.1 to 139.6.
Under the hood, the labor market appears to be resurgent…
Additionally, the lower income cohorts saw the biggest surge in confidence…
Finally, we note perhaps the most interesting aspect of the report is the fact that ‘hope’ was flat as the “expectations” index printed 109.8 vs 109.6 in March.
Tue, 04/27/2021 – 10:06