Monthly consumer confidence data from The Conference Board
Prior was 135.7
Present situation 171.6 vs 172.7 prior
Expectations 99.1 vs 111.0 prior
Jobs hard to get 11.6 vs 12.6 prior
The good news is that confidence is still high, the bad news is that it looks a bit like it rolled over. Then again, it's only one month so it would be foolish to draw any conclusions.
"Expectations regarding job prospects and business conditions weakened, but still suggest that the economy will continue expanding at a solid pace in the short-term. While consumers are ending 2018 on a strong note, back-to-back declines in Expectations are reflective of an increasing concern that the pace of economic growth will begin moderating in the first half of 2019," said Lynn Franco, Senior Director of Economic Indicators at The Conference Board in the release.
Overall, it's tough to say there is anything really bad here. Here is the business conditions survey and 18.3% said conditions would be better in six months compared to 21.9 prior. 9.7% said worse compared to 8.3% and 72.0% said the same.
From consumers, plans to buy major items like cars and appliances slipped but there's no reason to hit the panic button.
