Friday, 12 August 2011

US Consumer Sentiment hits 30 year low. Added: Retail sales head for Christmas crash.



Story at Bloomberg.  Well below expectations.
"Estimates of 69 economists for the confidence measure ranged from 59 to 66.5, according to the Bloomberg survey. The index averaged 89 in the five years leading up to the recession that began in December 2007".
See chart below from Zero Hedge comparing year-over-year retail sales to consumer confidence.  Sales will crash before Christmas - if the past is a guide.

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