WTF Chart Of The Day: American Consumer Confidence Soars To 16 Year Highs As Real Wages Plunge
by Tyler Durden
ZeroHedge.com
Feb 28, 2017
Continuing the trend of ‘soft’ survey data strong performance and expectation beats, The Conference Board’s Consumer Confidence surged above the highest analyst’s expectation to 114.8 – the best print since July 2001.
Consumers’ assessment of current conditions held relatively steady in February. Those saying business conditions are “good” declined slightly from 29.0 percent to 28.7 percent, while those saying business conditions are “bad” also decreased, from 15.9 percent to 13.2 percent.
Consumers’ assessment of the labor market was also mixed. Those stating jobs are “plentiful” declined from 27.1 percent to 26.2 percent, while those claiming jobs are “hard to get” also decreased, from 21.1 percent to 20.3 percent.
Consumers were more optimistic about the short-term outlook in February. The percentage of consumers expecting business conditions to improve over the next six months increased from 22.9 percent to 24.0 percent, however those expecting business conditions to worsen also rose slightly from 10.8 percent to 11.1 percent.
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