Consumer confidence measured by the Conference Board rose to 134.1 in May above expectations. Analysts at Wells Fargo, point out that consumers’ take on the present situation rose to 175.2, higher than at any prior point in this cycle and added that jobs have not been this plentiful since 2001, according to consumers.
“The initial cut-off for responses was the 16th of May, so there was at least some time for the recent escalation in the trade spat with China to factor in. But at this stage, consumers are nonplussed.”
“The most immediate potential hit to spending from the trade war is apt to occur amid a diminished wealth effect should the stock market experience a steep and sustained selloff. With most equity indexes down less than 4%, we are not there yet.”
“The proportion of consumers who think jobs are “hard to get” fell to 10.9, less than a point away from the all-time low of 9.6 reached in July 2000. With jobless claims figures testing lows not seen in 50 years, there is no obvious sign of a turn in prospects for jobs.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.