Will the real confidence measure please stand up?

Wells Fargo Research Team Wells Fargo

Summary

The Conference Board's measure of consumer confidence rose slightly in July, remaining at its highest level of the post-pandemic era. The gain was largely unexpected especially in the wake of the sharp decline in an alternative measure of consumer sentiment earlier this month. Although the conflicting purchase measures mean that the jury is still out on how inflation is weighing on consumers, optimism around business conditions, employment and expected income shows that consumers remain upbeat.

Source: The Conference Board and Wells Fargo Securities

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Wells Fargo Research Team

Wells Fargo

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