The Stock Market is up 200 points as of this writing. I would not be shocked if the media does a economic victory lap and claims Obama has saved us. The reality for consumers is different. Consumer confidence fell to the lowest level of the year as people feel economic conditions have deteriorated.
U.S. consumer sentiment dropped to a six-month low in June as Americans’ view of the economy soured, a survey released on Friday showed.
The Thomson Reuters/University of Michigan’s final reading on the overall index on consumer sentiment fell to 73.2 in June from 79.3 in May.
It was the lowest level since December and fell short of economists’ expectations for the index to hold at the same level as June’s preliminary reading of 74.1.
The deterioration in consumers’ attitudes came mostly from households with incomes over $75,000; sentiment among lower-income households was little changed, the survey said.
The Obama bust continues to wreak havoc.
Tags: Consumer Confidence